By CryptoSlate | Created at 2024-11-26 09:48:15 | Updated at 2024-11-26 12:50:03
3 hours ago
Online video platform Rumble and Canadian wellness company Jiva Technologies have joined the growing number of firms adopting Bitcoin as part of their corporate treasury strategy this year.
Market observers noted that these moves reflect the increasing appeal of Bitcoin as a treasury asset, signaling a shift in how companies view crypto in their long-term strategies.
On Nov. 25, Rumble announced that its Board of Directors had approved a plan to allocate up to $20 million from its excess cash reserves for a Bitcoin Treasury Strategy.
Rumble CEO Chris Pavlovski explained that the decision was based on the belief that BTC could hedge against inflation and was a distinct alternative to government-issued currencies. He also highlighted Bitcoin’s ability to strengthen Rumble’s relationship with the crypto community.
Notably, this move comes less than a week after Pavlovski polled his followers on social media platform X (formerly Twitter) on whether his company should adopt Bitcoin. The poll saw overwhelming support, with 93.9% of over 43,000 participants backing the idea.
According to Google Finance, Rumble’s stock price is up more than 4% at pre-market trading alongside other news of signing controversial streamer Dr. Disrespect, who was banned from Twitch and now demonetized on YouTube following an admission of inappropriate conversations with minors. This continues a year-to-date growth of 68.43%.
On the same day, Jiva Technologies revealed its decision to invest up to $1 million in Bitcoin after receiving approval from its Board of Directors. The plant-based wellness company views Bitcoin as a strategic asset aligning with its financial resilience and innovation vision.
Jiva CEO Lorne Rapkin highlighted Bitcoin’s scarcity and finite supply, describing it as a modern safeguard against inflation and economic uncertainty. He expressed confidence in the asset’s growing acceptance and role as a trusted store of value.
