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YouTube’s main competitor creates strategic reserve with Bitcoin
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THE Rumblecurrently the YouTube’s main competitorannounced this Tuesday (26) the decision to create a Bitcoin (BTC) strategic reserve.
The platform, known for its liberal approach to censorship, will allocate up to $20 million of its excess cash to buying cryptocurrency. The measure aims to consolidate the company’s position in the market and accelerate its expansion, taking advantage of the benefits of Bitcoin as a store of value.
The decision comes shortly after BTC registered a strong bullish rally that took the cryptocurrency from the $66,000 level to a peak of $99,500, although a recent fix returned the asset to US$92 thousand.
Chris Pavlovski, CEO of Rumble, highlighted the importance of this decision. According to him, the adoption of Bitcoin reflects the company’s strategic vision at a time of growing institutional acceptance of cryptocurrency.
Bitcoin as a growth and diversification strategy
Rumble aims to become the leading video platform and cloud services for the cryptocurrency community. The CEO stated that the choice for Bitcoin is in line with the company’s philosophy of offering greater freedom of expression and strengthen its ecosystem.
The company defined that the acquisition of Bitcoins will occur gradually, based on factors such as market conditions and your financial needs. This approach allows flexibility for Rumble to capitalize on opportune purchasing moments.
Rumble’s initiative takes place in a scenario of greater acceptance of Bitcoindriven by the election of a cryptocurrency-friendly presidential administration in the United States.
michael saylorpresident of MicroStrategy, praised the decision and offered to advise Pavlovski on best practices for integrating BTC into corporate strategy.
Other companies, such as Solidion Technology and Genius Group, have also announced similar moves, strengthening the trend of corporate adoption of Bitcoin. Additionally, US states such as Florida and Pennsylvania are considering integrating cryptocurrencies into their financial strategies.
YouTube’s main competitor creates strategic reserve with Bitcoin
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YouTube’s main competitor creates strategic reserve with Bitcoin
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YouTube’s main competitor creates strategic reserve with Bitcoin
