Rumble Shares Pop After CEO Sparks Bitcoin Balance Sheet Debate
Shares of video-sharing platform Rumble (RUM) gained momentum on Tuesday after CEO Chris Pavlovski teased the idea of adding bitcoin (BTC) to the company’s balance sheet.
“Should Rumble add Bitcoin to its balance sheet?” Pavlovski posted on X, setting off a flurry of speculation.
MicroStrategy’s Michael Saylor, a vocal advocate of corporate bitcoin adoption, promptly replied, “Yes. I’d be happy to discuss why and how with you.” Pavlovski’s response—“DM’ing you now”—further fueled excitement.
Rumble’s stock initially dipped earlier in the session but reversed course following the exchange, climbing as much as 7% before settling at a 3.3% gain. The chatter came as bitcoin hit an all-time high of over $94,000, driven in part by increasing institutional interest.
Rumble, a competitor to YouTube, reported $25.1 million in Q3 revenue—a 39% year-over-year increase—and ended the quarter with $130.8 million in cash. The company’s stock is up 26% so far this year, with a market valuation near $1.6 billion.
For more: Bitcoin Hits Record High as ETF Buzz Intensifies
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