Rumble's Bold Move into Bitcoin Following MicroStrategy's Example
Rumble's Strategic Shift Towards Bitcoin
Nov 19 marks a pivotal moment for Rumble Inc (NASDAQ: RUM) as its CEO, Chris Pavlovski, openly considers integrating Bitcoin (BTC) into the company's financial framework. This bold contemplation aligns Rumble with MicroStrategy's successful BTC strategy, which has seen significant returns since August 2020.
MicroStrategy's Proven Bitcoin Strategy
- MicroStrategy's acquisitions have led the company to hold 331,200 BTC, representing 1.57% of Bitcoin's total supply.
- Since its first purchase, Bitcoin has appreciated by 732%, while MicroStrategy’s stock surged by 2,938%.
AI Predictions for Rumble's Stock Prices
In light of potential BTC adoption, xAI’s Grok 2 forecasted three price scenarios for RUM:
- Optimistic Scenario: RUM could soar to $20 to $30 by 2025 if Bitcoin's value continues to rise.
- Base Case: A more conservative range of $8 to $12 is anticipated, taking into account a slower adoption rate.
- Bearish Outlook: If market conditions deteriorate, RUM might dip to $4 to $5.
The Market's Sentiment on Bitcoin
Current sentiments reflect caution, with experts noting potential volatility. As highlighted by analysts like CryptoQuant's Ki Young Ju, there exist fears of entering a bear market phase, especially if the price rises too rapidly.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.