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- The stock surged 130% after adopting Bitcoin as a reserve asset and securing $775M from Tether.
- The Tether deal funds Rumble’s growth and crypto initiatives, boosting its appeal as a crypto-linked stock.
- Rumble’s Bitcoin adoption aligns with rising institutional interest, driving speculation and investor confidence.
The stock price of Rumble has shot up recently. The company recently adopted Bitcoin as a treasury reserve asset. Rumble’s entry into the crypto adjacent stock market indicates its increasing focus on cryptocurrency.
This is part of Rumble’s corporate treasury diversification strategy. The company is allocating up to $20 million of its cash reserves for Bitcoin. The timing and value of purchases are dictated by market conditions and operational needs and will be set by management. The process also reinforces Rumble’s faith in Bitcoin as a hedge against inflation and a basic financial instrument.
Tether Investment Adds Momentum
The boom in its stock is not exclusively driven by its adoption of bitcoin. Tether has just announced a $775 million investment into the company. Tether will buy the Class A common stock for 103.33 million shares at $7.50 per share in this deal.
The funds will be split between operational growth and a self-tender offer to repurchase shares from existing stockholders. Specifically, $250 million will support business expansion, while $525 million will be used to buy back shares. This structure provides liquidity to current shareholders while ensuring the company’s growth initiatives are well-funded.
Crypto Connections Strengthen Investor Confidence
The partnership between Rumble and Tether has amplified the company’s crypto narrative. Investors are optimistic about potential collaborations in advertising, cloud services, and crypto payment solutions. This optimism has further fueled speculation, driving Rumble’s stock up 130% over the last week.
The Tether deal reinforces Rumble’s position as a cryptocurrency-linked stock. It also aligns with the broader trend of crypto adoption in institutional players through its Bitcoin strategy. With these developments, Rumble has secured its position as a speculative favorite to investors looking for big risks and big returns.
The Tether investment deal remains subject to regulatory approvals. It includes review under the antitrust Hart-Scott-Rodino Act. The transaction is expected to close by early 2025.
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