Video sharing platform Rumble (RUM) is moving higher during midday U.S. trading hours on Tuesday after CEO Chris Pavlovski suggested interest in adopting a bitcoin {{BTC}} treasury strategy.
“Should Rumble add Bitcoin to its balance sheet,” Pavlovsky asked on X.
On its own, the question might be seen as little more than a playful tease, but a response quickly came from MicroStrategy’s (MSTR) Michael Saylor, who pioneered corporate bitcoin adoption.
“Yes,” Saylor replied. “I would like to discuss with you why and how.” “I’m sending you a DM now,” Pavlovsky replied.
Before the market, Rumble’s shares were trading modestly lower during the session, but shares quickly rallied to a gain of about 7%. At the time of writing, the stock had pulled back slightly, up 3.3% for the day.
Bitcoin’s price hit a new record on Tuesday, surpassing the $94,000 level for the first time — at least partly amid excitement about growing corporate adoption.
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Rumble, a rival to video-sharing giant YouTube, posted revenue of $25.1 million in the third quarter, up 39% from last year’s levels. The balance sheet showed $130.8 million in cash and cash equivalents. The stock is up 26% this year and the company has a current market cap of about $1.6 billion.
