PANews reported on March 12 that according to CoinDesk, the Nasdaq-listed video sharing platform Rumble has invested $17.1 million in Bitcoin, adding 188 BTC to its company funds. The average purchase price of each Bitcoin is $91,000.

The move is part of Rumble’s previously disclosed plan to adopt a Bitcoin funding strategy and allocate up to $20 million of its cash reserves to Bitcoin. Rumble CEO Chris Pavlovski said the decision is part of its further involvement in the crypto industry.

Future purchases will depend on factors such as market conditions, bitcoin prices and Rumble’s cash flow needs, the company added.