Rumble Stock Rises In Tuesday Pre-Market After Adopting Bitcoin Treasury Strategy As BTC Retreats
Posted On November 26, 2024
Rumble Inc. (NASDAQ:RUM) saw a 5.75% rise in pre-market trading on Tuesday, as per Benzinga Pro, following the announcement of a new Bitcoin (CRYPTO: BTC) treasury strategy.
What Happened: According to an announcement made Monday, Rumble’s board has approved a plan to invest a portion of its surplus cash reserves into Bitcoin, aligning with the cryptocurrency’s record-breaking performance.
Meanwhile, Bitcoin dropped to 92,325.34 during pre-market hours after failing to break the $100,000 level.
The strategy involves potential investments of up to $20 million, with the company …
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