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Nasdaq-listed Thumzup authorized to hold up to $250M in BTC, ETH, XRP, and DOGE
Diversifying its digital asset portfolio, Thumzup aims to capitalize on evolving US regulations and broaden shareholder value.
Thumzup Media Corporation has been authorized by its board of directors to hold up to $250 million in various crypto assets. The company currently holds 19 Bitcoin worth approximately $2.3 million and plans to invest in major altcoins, including Ethereum, XRP, Dogecoin, and Litecoin.
The expansion was approved earlier this month, with details on the planned allocation per coin remaining undisclosed.
“We believe diversifying our portfolio of cryptocurrencies will enable Thumzup to stay on top of crypto innovation,” said Robert Steele, CEO of Thumzup. “This move is in line with the administration’s recent stance on crypto.”
The company’s decision comes as US lawmakers have passed three major crypto bills, including the GENIUS Act, which is heading to President Donald Trump’s desk for signature.
Thumzup shares (TZUP) rose in after-hours trading, according to Yahoo Finance data. The stock has increased by approximately 84% over the past month.
Donald Trump Jr., one of Thumzup’s shareholders, owns 350,000 shares in the company.
Source: cryptobriefing.com
