Nasdaq-listed company Rumble purchased 188 BTC for $17.1 million

ChainCatcher news, according to CoinDesk, Nasdaq-listed video sharing platform Rumble announced the purchase of 188 BTC for $17.1 million, at an average price of $91,000.

This move is part of Rumble's previously disclosed plan, which will adopt a Bitcoin funding strategy and allocate up to $20 million of cash reserves to Bitcoin. Rumble CEO Chris Pavlovski stated that this decision is part of its further involvement in the crypto industry.

The company added that future purchases will depend on market conditions, Bitcoin prices, and Rumble's cash flow needs, among other factors.

It is reported that Tether invested $775 million in the company at the end of last year.