Rumble Online Video and Jiva Technologies are two of many companies that have adopted Bitcoin in their corporate strategy for treasury this year.
These decisions are indicative of a wider trend in which institutions have shown an interest in top crypto assets as they seek to find alternatives to the traditional financial instruments.
Market analysts noted that this move reflects the growing appeal of Bitcoin in treasury assets, which signals a change in how businesses view crypto as part of their long-term strategy.
Rumble’s $20 million Bitcoin move
Rumble, on November 25, announced that the Board of Directors of its company had approved allocating up to $20,000,000 from its surplus cash to a Bitcoin Treasury Strategy.
Rumble’s CEO Chris Pavlovski said that his decision was driven by the conviction that BTC is a good hedge against the inflation rate and a viable alternative to currency issued by governments. He also highlighted Bitcoin’s ability to strengthen Rumble’s relationship with the crypto community.
Pavlovski was added as follows:
“We believe that the world is still in the early stages of the adoption of Bitcoin, which has recently accelerated with the election of a crypto-friendly US presidential administration and increased institutional adoption.”
It is noteworthy that this decision comes less than a month after Pavlovski surveyed his Twitter-like followers to determine whether or not his company should embrace Bitcoin. Over 43,000 respondents overwhelmingly supported the idea, with 93.9%.
According to Google Finance, Rumble’s stock price is up more than 4% at pre-market trading alongside other news of signing controversial streamer Dr. Disrespect, who was banned from Twitch and now demonetized on YouTube following an admission of inappropriate conversations with minors. The growth continues to be 68.43% for the year.
Jiva Technologies follows suit
Jiva Technologies, which has received approval from the Board of Directors of its company, announced on that same day its intention to invest up $1 million into Bitcoin. Plant-based wellness firm Jiva Technologies views Bitcoin as an asset that aligns with their financial resilience vision and innovative approach.
Jiva CEO Lorne Rapkin highlighted Bitcoin’s scarcity and finite supply, describing it as a modern safeguard against inflation and economic uncertainty. He expressed confidence in the asset’s growing acceptance and role as a trusted store of value.
“He added”
“The potential for favorable regulatory frameworks and increased institutional adoption, highlighted by the recent wave of Bitcoin ETFs, underscores Bitcoin’s value proposition and makes us believe it is an ideal asset for corporate treasuries seeking inflation-resistant stores of value.”
Postings in: Bitcoin, US Adoption, Crypto The Author 
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Oluwapelumi is a believer in Bitcoin. He shares his insights and opinions on topics such as DeFi, Hacks, Mining, Culture, etc., highlighting the transformative power of Bitcoin.
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