Video-sharing platform Rumble considers adding Bitcoin to its balance sheet, shares rise 9%

Video sharing platform Rumble Inc (RUM) shares rose 9% in after-hours trading on November 19, hitting a high of $6.20 after its founder and CEO Chris Pavlovski earlier launched a poll on X: "Should Rumble add Bitcoin to its balance sheet?" About 29,000 people chose "yes". "Yes. We're happy to help if needed," said Jack Mallers, CEO and founder of Bitcoin payment provider Strike. MicroStrategy Chairman Michael Saylor offered to discuss with Pavlovski how to do this, and the latter seemed to accept the suggestion. Google Finance data shows that Rumble shares closed up 2.5% to $5.68 on the day, hitting a high of $6.20 after hours, and have now fallen to $5.78, up 1.76% since the close. Rumble operates a video sharing platform of the same name, which is known for its relaxed content moderation policy. Its cloud services division also hosts Trump's social media platform Truth Social. Rumble has approximately 67 million monthly active users and began trading publicly on the Nasdaq in September 2022. As of September 30, 2024, Rumble had approximately $132 million in cash, cash equivalents, and marketable securities on its balance sheet. The platform generated approximately $25 million in revenue in the third quarter, a year-over-year increase of 39%. (Cointelegraph)