rumble buys more bitcoin

[bitterguy28]

rumble, an online video sharing platform, has bought more bitcoin on march 12th they decided to buy 188 bitcoin amounting to almost 18 million us dollars saying that this would be a smart investment after trump won in novembers

rumble also offered their services to el salvador so it is safe to say that this company is serious about working with crypto in crypto

it’s nice to see more companies buying even when bitcoin is not particularly high because they trust bitcoin to grow over time

source: https://cointelegraph.com/news/rumble-bitcoin-purchase-donald-trump-inflation-hedge

[TomPluz]

I guess Rumble knows what it is doing...using common sense it is buying Bitcoin when there is a big dip. Companies who are thinking of entering Bitcoin and cryptocurrency should decide now to buy and take this opportunity so that they can take a ride when the roller-coaster upward movements will soon be back on the game. We already know how Bitcoin works and if one has the resources and has the appetite for risk-taking, the moment has come for them. We need more good news on the horizon and let's hope many more organizations will get enticed to do what Rumble is doing.

[memehunter]

Bitcoin has shown a perfect double bottom formation after bouncing from 77k- 80k levels twice within a month. No wonder wise investors are making good entry points because, let's be honest, they are going to buy BTC anyway, so why not buy it when it is cheap?

[NotATether]

I guess platforms like Rumble need to embrace crytpocurrencies since payment providers are hostile to them, but the question arises: why do they need to hold bitcoins themselves? They are not an investment entity but a corporation seeking to maximize profits.

Passive HODLing of BTC does not accomplish that, primarily because you need to be bringing in revenue.

[Bobcrypto]

Yes, the more institutions are entering the crypto market the better for a continuing bullish momentum. Rumble is expanding it's business empire through crypto investments, and it is a welcome development. I think in near future more institutions are likely to come board on the crypto community.
Again, It is a good idea to buy the dip or start investing during the market dip or corrections. In facts, $78k to $83k is a good entry positions.

[TryNinja]

why do they need to hold bitcoins themselves? They are not an investment entity but a corporation seeking to maximize profits.

Passive HODLing of BTC does not accomplish that, primarily because you need to be bringing in revenue.

Marketing and connecting with their audience could be two major reasons for that.

Rumble has a very specific audience... people who love "freedom over everything", right-wing, etc... which have a huge overlap with crypto people, specifically bitcoin maximalists. They're buying BTC because that's their thing, less state doing shit on your life, being your own bank kinda helps with that.

It's a no-brainer for them.

[Charles-Tim]

Bitcoin has shown a perfect double bottom formation after bouncing from 77k- 80k levels twice within a month. No wonder wise investors are making good entry points because, let's be honest, they are going to buy BTC anyway, so why not buy it when it is cheap?

I can say that it is cheap if compared with when the price was at $90000 or over $100000. But the first dip was around $78250 while the second dip was around $76620. I do not know if that can be called double bottom that everyone is saying. But I know that after the second dip, it is wise decision to buy at such price.

I guess platforms like Rumble need to embrace crytpocurrencies since payment providers are hostile to them, but the question arises: why do they need to hold bitcoins themselves? They are not an investment entity but a corporation seeking to maximize profits.

Passive HODLing of BTC does not accomplish that, primarily because you need to be bringing in revenue.

Any company can hold bitcoin. Bitcoin is not only for investment entity. Anyone or any institution or country etc can hold bitcoin if they see it as an investment.

Also their customers that heard about the move can search about what bitcoin is which can lead to more adoption.

[Baofeng]

I guess platforms like Rumble need to embrace crytpocurrencies since payment providers are hostile to them, but the question arises: why do they need to hold bitcoins themselves? They are not an investment entity but a corporation seeking to maximize profits.

Passive HODLing of BTC does not accomplish that, primarily because you need to be bringing in revenue.

The only thing that I see is that sooner or later they will have to sell, specially if they made profits already. I don't think that they will be like Michael Saylor who will hold on it as long as they can.

And like Bhutan itself, having stockpile of Bitcoin, but there are times that they sell near top and uses that money for other things like government projects.

[Aanuoluwatofunmi]

People and industries have been seeing more of it advantage to invest in bitcoin, many of them have been seeking for different entry opportunities for bitcoin, knowing how valuable and profitable it has been over time, they are also taking the advantage of the bear to invest and hold till the market rises along the year and they are in profit at the cause, this has been a positive indication to more bullrun ahead before the season ends.

[hugeblack]

According to Rumble's latest financial reports they have a TTM revenue of around $85.65 Million USD but looking at their Q3 Q4 numbers the company is not that profitable so $18 Million is a serious investment for them.


Source ---> https://companiesmarketcap.com/rumble/revenue

it’s nice to see more companies buying even when bitcoin is not particularly high because they trust bitcoin to grow over time

Most of these companies have an investment and risk management team that knows that investing when the market is green or the prices are crazy is not a wise move.

[Zed0X]

It makes sense since the company itself is like anti-censorship. They allowed content creators that were either completely banned or demonetized in other social media (youtube, twitch, etc.). If I'm not mistaken they were pressured by some Government to block some people but they refused. This sort of lead to their platform being banned in certain countries. With former users now unable to access their platform, it's only logical to move to other money making opportunities like BTC.

[target]

This rumble was the one claiming to be independent than youtube. They say they don't censor anything compare to most social media and video sharing sites, its interesting the authorities didn't seized them yet but yes having a Bitcoin could be a safe investment of the company.

A company would rather have Bitcoin these days. Hiding gold in their vaults are a lot more unsafe than Bitcoin's private keys.

[bitterguy28]

I guess Rumble knows what it is doing...using common sense it is buying Bitcoin when there is a big dip. Companies who are thinking of entering Bitcoin and cryptocurrency should decide now to buy and take this opportunity so that they can take a ride when the roller-coaster upward movements will soon be back on the game.

microstrategy led by michael saylor bought bitcoin when bitcoin's price was not that high and it paid off massively for them as they kept holding until the bull run and now they are accumulating more and that is exactly what other companies should do instead of only entering the market when the market looks good stop running on fomo and instead make strategic decisions

[LogitechMouse]

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it’s nice to see more companies buying even when bitcoin is not particularly high because they trust bitcoin to grow over time

TBH, I missed those people who are saying things like:
"Bitcoin is dead" or "Bitcoin will go to zero" or "Bitcoin is a scam" blah blah blah. I wonder where there are right now.

Kidding aside, it's good to see more and more companies and establishments buying Bitcoin as a form of investment or at least connecting themselves with crypto. With Trump making an EO for Bitcoin making a strategic reserve, this removes the fact that Bitcoin is a scam or will go to zero because even the government are already investing into it. As years pass by, more and more companies will buy Bitcoin because they see it as a hedge tool towards the US Dollar.

[Finassets]

Interesting, quite a solid investment. How is Rumble doing in competing with YouTube? As far as I know, the platform's user base is growing. I followed this platform a couple of years ago.