30s Summary

Rumble, a video-sharing platform, saw its stocks rise following CEO Chris Pavlovski’s suggestion of adopting a Bitcoin strategy. The suggestion prompted a positive response from Michael Saylor of MicroStrategy, a company known for its corporate adoption of Bitcoin. On the same day, Bitcoin’s price reached new highs, surpassing the $94,000 mark, pushing Rumble’s stocks to gain by 7%. Although it dropped a little, it still closed with a positive 3.3% gain.

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Rumble, a video-sharing platform, has seen its stock price rise in afternoon trading in the US on Tuesday. CEO Chris Pavlovski indicated a possible interest in adopting a bitcoin strategy. He asked, “Should Rumble add Bitcoin to its balance sheet?” which is more than just an idle query. This prompted a response from Michael Saylor of MicroStrategy, a company that pioneered corporate adoption of bitcoin.

Saylor responded, “Yes,” and even extended an offer to chat about the merits of such an adoption and the necessary steps. Pavlovski replied that he would private message him the details. After this exchange, Rumble’s stock, which had been trading lower, rose to achieve about a 7% gain. However, it did dial back a bit to about 3.3% up for the day.

Meanwhile, Tuesday saw Bitcoin’s price reaching new records, surpassing the $94,000 level, possibly due to growing enthusiasm about expanded corporate adoption.

As a competitor to YouTube, Rumble posted a revenue of $25.1 million in Q3, a 39% increase from the previous year. Although its balance sheet showed cash and cash equivalents worth $130.8 million, the company’s market cap is about $1.6 billion.