Video streaming platform Rumble has purchased approximately 188 Bitcoin ahead of the recent market downturn, the company announced Wednesday. The Nasdaq-listed firm acquired around $17.1 million worth of Bitcoin at an average price of $91,000 per coin.

The purchase comes as part of its Bitcoin treasury strategy. Earlier in the year, Rumble announced its commitment to invest up to $20 million in Bitcoin as part of its effort to diversify its financial reserves.

Rumble Chairman and CEO Chris Pavlovski frames this move as a strategy against inflation and currency dillution, which has plagued traditional government-issued money.

He adds that by integrating Bitcoin into Rumble's financial strategy also shows the company's commitment and trust in cryptocurrency.

"We are proud to officially hold Bitcoin as we continue to grow and engrain crypto into our company's DNA."

A decision made with fan's blessings

Rumble's bold move to move into cryptocurrency dates several months back. In November, Pavlovski did a poll on his social media account, seeking the fans' opinion on whether Rumble should add Bitcoin to its financial sheet.

The response was overwhelming, with 93% of respondents voting yes. Rumble's decision to embrace Bitcoin follows a broader trend of tech platforms, such as MicroStrategy adn Marathon Digital, which are adopting Bitcoin as part of their treasury management strategies.

Last December, Tether made a $775 million investment in the platform, with a portion of the funds designated for growth initiatives.

Rumble's decision to venture into crypto has captured the attention of many tech leaders, including Michael Saylor, the chairman of MicroStrategy, a company renowned for its massive Bitcoin holdings. After the poll, he offered to discuss the process with Pavlovskyi, who appeared receptive to the idea.

Rumble's rallying behind President Trump

Rumble’s adoption of Bitcoin comes at a crucial juncture for both financial markets and U.S. politics. The move aligns with the pro-business, deregulatory stance expected under the Trump administration, which is likely to take a more lenient approach to cryptocurrency regulation compared to the stricter oversight seen under Biden.

The decision also carries strategic significance given Rumble’s close ties to Truth Social, Donald Trump’s social media platform. With Rumble’s cloud infrastructure powering Truth Social, the company remains a central player in the digital ecosystem favored by Trump’s supporters.

While Rumble has set a $20 million cap on its Bitcoin investment, future acquisitions will depend on market dynamics, Bitcoin’s price movements, and the company’s liquidity. The firm has indicated flexibility in its approach, leaving open the possibility of adjusting or pausing its Bitcoin strategy as needed.

In addition to its crypto investment, Rumble recently announced a cloud services partnership with the government of El Salvador, further solidifying its crypto ties.