Published on 26 Nov 2024 on Benzinga
Will GameStop, AMC Follow MicroStrategy, Rumble Into Bitcoin? - AMC Enter Hldgs...
MicroStrategy Inc MSTR drove market conversations around a “Bitcoin treasury,” whereby companies allocate treasury funds to Bitcoin BTC/USD rather than traditional investments. Rumble Inc RUM followed suit, as revealed in an announcement on Monday. This begs the question: Which companies will adopt Bitcoin next?
The Announcement: Shares of Rumble jumped over 3% on Tuesday morning following the company board’s approval of a Bitcoin plan. The strategy involves potential investments of up to $20 million in Bitcoin, or approximately 212 coins at current market prices.