The Board of Directors at Thumzup Media Corp. approved the company’s holding of up to $250M in crypto on July 17. The company will diversify its crypto portfolio to include Bitcoin (BTC), Ether (ETH), Ripple (XRP), Stablecoin (USDC), Solana(SOL), Dogecoin (DOGE), and Litecoin (LTC).
Thumzup CEO Robert Steele said the company was committed to staying at the forefront of crypto as the U.S. government sought to bring more regulatory clarity and crypto-friendly policies. He added that diversifying the company’s crypto portfolio allowed it to gain greater general exposure to the crypto space. Steele believes the company is well-positioned to create value for TZUP shareholders. Donald Trump Jr. owns roughly 350K of Thumzup’s shares valued at over $4M.
The California-based firm currently holds about 19 BTC worth over $2.3M. It also plans to make heavy investments in major altcoins, whose allocations per coin have yet to be specified. The company’s expansion of its crypto treasury beyond Bitcoin parallels the growth of its AdTech platform.
Steele says shareholders come first
The company’s CEO said the decision to increase crypto holdings was in the best interest of shareholders. He added that expanding beyond Bitcoin to include other altcoins made sense. The company plans to purchase the crypto using $6.5 million raised earlier this month. It will also accelerate Bitcoin accumulation to make 90% of its crypto assets in BTC.
Thumzup also established a BTC-backed credit facility with Coinbase Prime to give the company flexible access to “non-dilutive working capital” while executing its strategy to accumulate more Bitcoin. The company’s team believes that demand for the limited supply of Bitcoin will only continue to drive prices higher. Thumzup plans to pay its users in BTC to post about local businesses they love.
“Thumzup’s decisive actions demonstrate our Board of Directors’ ongoing commitment to protect and create long-term value for our shareholders…We are proud to see such momentum and are looking forward to the path ahead.”
–Robert Steele, CEO at Thumzup
Thumzup recently announced that it had surpassed 1K advertiser locations and achieved a compound annual growth rate (CAGR) of 218%. The company’s CEO said surpassing 1K advertiser locations on the Thumzup app was a major milestone that validated the increasing demand for the platform. He also added that the continued expansion of his company’s technological innovation and market was driving strong adoption, reaching over 535 million active users every month on X and Instagram.
Thumzup believes crypto will enhance its financial flexibility
Steele claimed that his company’s expansion into other cryptocurrencies aligned with its commitment to innovative treasury management. He added that the diversified approach to crypto would enhance the company’s financial flexibility as it continued to grow its advertiser base. The Board’s recent resolution gave management the authority to assess the potential requirements and benefits of diversifying the company’s crypto portfolio.
The Thumzup CEO also mentioned that the S&P 500 went down while Bitcoin surged following President Trump’s recent tariff announcements. He added that this further solidified the thesis that Bitcoin was becoming “digital gold.”
As of publication, BitcoinTreasuries’ data showed that 272 companies held BTC, an increase of 24 entities in the past 30 days. The amount of BTC in treasuries also went up 2.62% (+$3.54 million) in the last 30 days. All the companies combined held over 860K BTC worth over $100 billion in their treasuries.
The U.S. led the countries with the most entities holding BTC. The country currently has 49 public companies, 22 private companies, two government entities, 16 exchanges and BTC ETFs, and one DeFi entity holding BTC.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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