📈 Rumble posted Q2 revenue of $40.37M (+60.9% YoY), topping the $30.66M estimate, though it posted a GAAP net loss of $0.28/share. Market cap climbed to $2.55B.
Yesterday, the video sharing platform Rumble announced that it will in future invest some of its surplus cash in $BTC (-1,61%) will be invested. The Board of Directors has approved this diversification strategy to use Bitcoin as a hedge against inflation.
CEO Chris Pavlovski explained that Bitcoin is an important part of the company's strategy in light of increasing institutional adoption and the election of a crypto-friendly US government. Bitcoin, unlike government currencies, offers the advantage of not being debased by unlimited money printing.
