Rumble, a YouTube competitor, has seen its stock rise by 7% after its CEO, Chris Pavlovski, teased the possibility of adopting a bitcoin treasury strategy. This move could be a game changer for corporate bitcoin adoption, especially if other companies follow suit.
Pavlovski’s tweet, which asked if Rumble should add bitcoin to its balance sheet, was met with a response from MicroStrategy’s Michael Saylor, who pioneered corporate bitcoin adoption. Saylor expressed his willingness to discuss the idea with Pavlovski, and the two exchanged messages on X.
Rumble’s stock has been on the rise, with a 26% increase year-to-date and a market cap of around $1.6 billion. The company posted $25.1 million in revenue in the third quarter, up 39% from the previous year. With $130.8 million in cash and cash equivalents on its balance sheet, Rumble is well-positioned to make a significant investment in bitcoin.
The price of bitcoin has also been on the rise, crossing the $94,000 level for the first time. This increase is partly due to growing corporate adoption, with companies like Rumble and MicroStrategy leading the way.
Predictions:
– Rumble’s stock will continue to rise as the company explores the possibility of adopting a bitcoin treasury strategy.
– More companies will follow Rumble’s lead and adopt bitcoin as a treasury strategy, leading to increased adoption and a higher price for bitcoin.
– The price of bitcoin will continue to rise, potentially reaching $100,000 or more in the near future.
– Corporate adoption of bitcoin will become more mainstream, with companies from various industries exploring the benefits of holding bitcoin on their balance sheets.
Overall, Rumble’s consideration of a bitcoin treasury strategy is a significant development in the corporate adoption of bitcoin. As more companies follow suit, we can expect to see increased adoption and a higher price for bitcoin.
