Rumble (RUM), the conservative-leaning streaming platform whose 澳洲幸运5官方开奖结果体彩网:backers include Vice President-elect JD Vance, said it is planning to allocate part of its cash reserves to bitcoin (BTCUSD).

Rumble shares were up around 4% Tuesday morni🐎ng.

The incoming White House is openly 澳洲幸运5官方开奖结果体彩网:crypto-friendly and Donald Trump has said he would make the U.S.  the “crypto capital of the planet” and create a bitcoin “strategic reserve” using the currency that the government currently holds. Bitcoin prices have been falling in recent days but have topped $90,000 and traded near the 澳洲幸运5官方开奖结果体彩网:$100,000 milestone since Trump was elected last month.

Rumble said its board has greenlit a “corporate treasury diversification strategy of allocating a portion of the company's excess cash reserves to Bitcoin.”

CEO Pavloski Says Bitcoin Could 💫Hedge Against Inflation

 "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 cryptofriendly U.S. presidential administration and increased institutional adoption,” Rumble Chairman and 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Chris Pavlovski said.

He added that because it isn’t “government issued,” bitcoin wouldn’t lose its value thro🎐ugh “endless money-printing” and could help hedge against inflation.

Pavlovski said the timing of the Bitcoin pu♚rchases would hinge on the general market conditions and Rumble management’s discretion.

Amassing bitcoin has 澳洲幸运5官方开奖结果体彩网:boosted the shares of companies like software maker MicroStrategy (MSTR), now the largest 澳洲幸运5官方开奖结果体彩网:corporate holder of the♍ token. Its stock has surged more t෴han 500% this year. Rumble's shares gained almost 70% year-to-date.