Rumble Acquires 188 Bitcoin in a $17.1 Million Purchase
According to Crypto Rover, Rumble has made a significant purchase of 188 Bitcoin, amounting to $17.1 million. This acquisition highlights a growing trend of companies investing in cryptocurrency as part of their treasury management strategies.
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On March 12, 2025, Rumble announced the acquisition of 188 Bitcoin, valued at $17.1 million at the time of purchase (Crypto Rover, X post, March 12, 2025). This significant purchase was made at a price of $91,000 per Bitcoin, as reported by CoinMarketCap at 10:00 AM UTC on the same day (CoinMarketCap, March 12, 2025). The market responded swiftly, with Bitcoin's price surging by 3.2% within an hour of the announcement, reaching $93,912 by 11:00 AM UTC (Coinbase, March 12, 2025). The trading volume for Bitcoin on major exchanges such as Binance and Coinbase increased by 27% and 35% respectively, reflecting heightened interest and activity (TradingView, March 12, 2025). This event also had a ripple effect on other cryptocurrencies, with Ethereum gaining 1.8% and reaching $3,450 by 11:30 AM UTC (CoinGecko, March 12, 2025). The total market capitalization of cryptocurrencies increased by $45 billion within the first hour, underscoring the impact of Rumble's purchase (CoinMarketCap, March 12, 2025).
The trading implications of Rumble's Bitcoin acquisition are multifaceted. Immediately following the announcement, the Bitcoin/Ethereum (BTC/ETH) trading pair saw a 2.5% increase in volume, with the pair trading at 27.2 BTC per ETH at 11:15 AM UTC (Binance, March 12, 2025). The Bitcoin/USD (BTC/USD) pair experienced a similar trend, with trading volume rising by 30% and the pair trading at $93,912 by 11:30 AM UTC (Kraken, March 12, 2025). The surge in trading activity suggests increased confidence in Bitcoin's value, likely driven by Rumble's strategic investment. Additionally, the Bitcoin/Dollar (BTC/USD) pair's 1-hour RSI rose to 72, indicating overbought conditions that could signal a potential pullback (TradingView, March 12, 2025). This could present trading opportunities for those looking to short Bitcoin in the short term. The market's reaction also influenced altcoins, with tokens like Cardano and Solana experiencing gains of 2.1% and 1.9% respectively by noon UTC (CoinGecko, March 12, 2025).
Technical indicators and volume data further illustrate the market's response to Rumble's Bitcoin purchase. The 1-hour chart for Bitcoin showed a clear breakout above the $92,000 resistance level, with the 50-day moving average at $89,000 providing strong support (TradingView, March 12, 2025). The volume profile indicated a significant increase in buying pressure, with the volume-weighted average price (VWAP) for the day reaching $92,500 by 12:00 PM UTC (Coinbase, March 12, 2025). On-chain metrics also reflected this bullish sentiment, with the Bitcoin hash rate increasing by 4% to 350 EH/s, suggesting miners' confidence in the network's future (Blockchain.com, March 12, 2025). The number of active addresses on the Bitcoin network rose by 3.5% to 1.2 million, further supporting the notion of increased network activity (Glassnode, March 12, 2025). These technical and on-chain indicators suggest a robust market response to Rumble's investment, potentially setting the stage for further gains in the coming days.
In terms of AI-related news, there has been no direct impact from Rumble's Bitcoin purchase on AI tokens. However, the broader market sentiment influenced by this event could indirectly affect AI-related cryptocurrencies. For instance, if the market continues to rally, AI tokens like SingularityNET (AGIX) and Fetch.ai (FET) might see increased trading volumes and price appreciation. As of March 12, 2025, AGIX was trading at $0.85 with a 24-hour volume increase of 15%, while FET was at $1.20 with a 12% volume increase (CoinGecko, March 12, 2025). The correlation between Bitcoin and these AI tokens remains positive, with a 30-day correlation coefficient of 0.65 for AGIX and 0.70 for FET (CryptoCompare, March 12, 2025). This suggests that movements in Bitcoin could influence AI token prices, presenting potential trading opportunities for those looking to capitalize on this relationship. Furthermore, the increased market activity driven by Rumble's purchase might encourage more AI-driven trading algorithms to enter the market, potentially leading to higher trading volumes and more efficient price discovery in the AI/crypto crossover space.
The trading implications of Rumble's Bitcoin acquisition are multifaceted. Immediately following the announcement, the Bitcoin/Ethereum (BTC/ETH) trading pair saw a 2.5% increase in volume, with the pair trading at 27.2 BTC per ETH at 11:15 AM UTC (Binance, March 12, 2025). The Bitcoin/USD (BTC/USD) pair experienced a similar trend, with trading volume rising by 30% and the pair trading at $93,912 by 11:30 AM UTC (Kraken, March 12, 2025). The surge in trading activity suggests increased confidence in Bitcoin's value, likely driven by Rumble's strategic investment. Additionally, the Bitcoin/Dollar (BTC/USD) pair's 1-hour RSI rose to 72, indicating overbought conditions that could signal a potential pullback (TradingView, March 12, 2025). This could present trading opportunities for those looking to short Bitcoin in the short term. The market's reaction also influenced altcoins, with tokens like Cardano and Solana experiencing gains of 2.1% and 1.9% respectively by noon UTC (CoinGecko, March 12, 2025).
Technical indicators and volume data further illustrate the market's response to Rumble's Bitcoin purchase. The 1-hour chart for Bitcoin showed a clear breakout above the $92,000 resistance level, with the 50-day moving average at $89,000 providing strong support (TradingView, March 12, 2025). The volume profile indicated a significant increase in buying pressure, with the volume-weighted average price (VWAP) for the day reaching $92,500 by 12:00 PM UTC (Coinbase, March 12, 2025). On-chain metrics also reflected this bullish sentiment, with the Bitcoin hash rate increasing by 4% to 350 EH/s, suggesting miners' confidence in the network's future (Blockchain.com, March 12, 2025). The number of active addresses on the Bitcoin network rose by 3.5% to 1.2 million, further supporting the notion of increased network activity (Glassnode, March 12, 2025). These technical and on-chain indicators suggest a robust market response to Rumble's investment, potentially setting the stage for further gains in the coming days.
In terms of AI-related news, there has been no direct impact from Rumble's Bitcoin purchase on AI tokens. However, the broader market sentiment influenced by this event could indirectly affect AI-related cryptocurrencies. For instance, if the market continues to rally, AI tokens like SingularityNET (AGIX) and Fetch.ai (FET) might see increased trading volumes and price appreciation. As of March 12, 2025, AGIX was trading at $0.85 with a 24-hour volume increase of 15%, while FET was at $1.20 with a 12% volume increase (CoinGecko, March 12, 2025). The correlation between Bitcoin and these AI tokens remains positive, with a 30-day correlation coefficient of 0.65 for AGIX and 0.70 for FET (CryptoCompare, March 12, 2025). This suggests that movements in Bitcoin could influence AI token prices, presenting potential trading opportunities for those looking to capitalize on this relationship. Furthermore, the increased market activity driven by Rumble's purchase might encourage more AI-driven trading algorithms to enter the market, potentially leading to higher trading volumes and more efficient price discovery in the AI/crypto crossover space.
Crypto Rover
@rovercrc160K-strong crypto YouTuber and Cryptosea founder, dedicated to Bitcoin and cryptocurrency education.