Rumble Stock Climbs as CEO Sparks Bitcoin Buzz
Video-sharing platform Rumble (RUM) saw its stock rise on Tuesday afternoon after CEO Chris Pavlovski hinted at a potential bitcoin (BTC) treasury strategy.
Taking to X (formerly Twitter), Pavlovski posed the question: “Should Rumble add Bitcoin to its balance sheet?”
While the comment could have been dismissed as a lighthearted tease, it caught the attention of MicroStrategy (MSTR) Executive Chairman Michael Saylor, a trailblazer in corporate bitcoin adoption.
“Yes,” Saylor responded. “I would be happy to discuss why and how with you.” Pavlovski quickly followed up, replying, “DM’ing you now.”
This brief exchange sent Rumble’s stock higher, reversing earlier losses. Shares jumped as much as 7% before settling to a 3.3% gain by the end of trading.
The surge coincided with bitcoin’s new record high of $94,000, fueled in part by excitement over increasing corporate interest in the cryptocurrency.
Rumble, a competitor to YouTube, reported $25.1 million in third-quarter revenue, a 39% year-over-year increase. The company held $130.8 million in cash and cash equivalents at quarter-end. Its stock is up 26% year-to-date, giving it a market cap of approximately $1.6 billion.
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