30s Summary

Rumble, a popular video-sharing platform amongst far-right audiences, is contemplating integrating Bitcoin into its operations after 29,000 of CEO Chris Pavlovski’s followers approved the idea. The decision led to a 9% rise in Rumble’s stock value, indicating positive investor sentiments. Despite a disappointing Q3 report, the platform boasts of about 67 million active users monthly and $132 million in cash reserves as of September 30, 2024. Should the company decide to adopt Bitcoin, it will join others like Genius Group, Metaplanet, and Semler Scientific who have begun holding Bitcoin.

Full Article

Rumble, a video-sharing platform that’s seen a lot of love from far-right audiences and conspiracy theory fans, might just start using Bitcoin in its business. The idea picked up steam when Rumble’s CEO, Chris Pavlovski, asked his followers if they thought it was a good idea. Turns out, a lot of them did – around 29,000 folks gave it a thumbs up.

After the news came out, Rumble’s stocks went up by a whopping 9% to reach $6.20, according to after-hours trading data from November 19! Even though it cooled down a bit to $5.78, it was still a noticeable bump from its closing rate at $5.68.

Rumble has some big audience numbers – about 67 million active users every month – and they’re known for being rather chill about what kind of content gets posted. One of their services even hosts Donald Trump’s very own social media platform, Truth Social.

Counting their money, as of 30th September 2024, they’ve got around $132 million in ready cash and marketable securities. Their earnings weren’t too shabby either. In the third quarter alone they pulled in about $25 million, a sweet 39% increase over the same period last year. But folks were expecting more, so when Rumble came up short with its Q3 results last week, the stocks took a bit of a dive.

But hey, if Rumble decides to put Bitcoin on its balance sheet, it’d be joining a growing club! AI company Genius Group just started its “Bitcoin first” policy by buying 110 Bitcoin for $10 million. And then there’s Metaplanet from Japan, hoovering up another bunch of Bitcoin for a cool $11.3 million. Plus, medical device maker Semler Scientific recently added $17.7 million of Bitcoin to their stash. So, if Rumble gets on the Bitcoin bandwagon, they’ll be in pretty good company!