Rumble purchased 188 Bitcoin for $17.1 million as part of its strategy to allocate up to $20 million to cryptocurrency while receiving backing from Tether.

Rumble, Inc.’s (RUM) shares rallied Wednesday after the conservative video-sharing platform owner said it purchased about 188 bitcoins at an average purchase price of $91,000 apiece. Based on the purchase price,

Video-sharing platform Rumble has invested $17m in Bitcoin, positioning the move as a hedge against inflation and currency dilution.