Nasdaq-listed Thumzup Media Corporation has unveiled a new treasury strategy that will see the company allocate up to $250 million into cryptocurrency holdings.
In an announcement on July 17, Thumzup confirmed that its Board of Directors has approved investments in Bitcoin, Ether, Solana, XRP, Dogecoin, Litecoin, and the stablecoin USD Coin. The move forms part of the company’s broader ambition to strengthen its position within digital finance while diversifying its balance sheet.
The Los Angeles-based AdTech firm, which rewards social media users for sharing branded content, noted that the decision aligns with its ongoing development of an AI-powered lifestyle marketplace. The patent-pending marketplace, according to Thumzup, will integrate seamlessly with its crypto treasury approach as it seeks to leverage emerging technologies for growth.
While no timeline has been set for deploying the funds, board approval grants Thumzup the flexibility to accumulate the assets gradually up to the authorized ceiling.
The company’s entry into crypto treasury holdings mirrors a growing trend among public firms. Data from BitcoinTreasuries.Net indicates that 272 companies globally now hold Bitcoin on their balance sheets, with many branching out into Ether, Solana, and XRP to diversify their exposure.
Market reactions to crypto treasury announcements have historically been mixed. For instance, companies like Upexi and SharpLink saw their stock prices soar by triple digits after revealing Solana and Ethereum holdings, only to experience subsequent steep pullbacks due to market volatility.
Thumzup’s stock has yet to reflect any significant movement following the announcement. It also remains unclear whether the company plans to raise funds for these purchases via mechanisms such as convertible debt, ATM equity offerings, or private investment in public equity (PIPE) deals, which other firms have used for similar strategies.
With supportive regulatory shifts in the U.S. fostering clearer crypto frameworks, Thumzup’s move underscores its intent to remain competitive in the evolving digital economy.
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