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Thumzup Media and KULR Technology Follow MicroStrategy’s Model with Major Bitcoin Buys
In a shocking turn of events, two publicly traded companies, Thumzup Media and KULR Technology Group, have announced significant investments in Bitcoin. This move comes on the heels of industry giant MicroStrategy, which has amassed a staggering $42 billion Bitcoin reserve.
According to reports, Thumzup Media, a social media marketing firm based in Los Angeles, has invested $1 million in Bitcoin. The company’s decision marks its first foray into the cryptocurrency market and demonstrates a willingness to diversify its assets. Furthermore, Thumzup Media plans to start paying its contractors in Bitcoin in the coming weeks.
On the other side of the country, KULR Technology, an energy storage solutions provider based in San Diego, has boosted its Bitcoin holdings by $21 million, bringing its total Bitcoin treasury to a whopping $42 million. This sudden increase comes less than two weeks after the company’s initial purchase. The decision is expected to have a significant impact on the market, as it further solidifies the trend of corporate adoption.
Both companies have explicitly stated their intention to allocate up to 90% of their liquid assets into Bitcoin. This strategy mirrors that pioneered by MicroStrategy, which has successfully secured long-term value for its shareholders through its massive Bitcoin reserve.
The increasing interest in cryptocurrency among institutional investors is a testament to its growing credibility and potential for long-term growth. The recent surge in corporate adoption serves as a stark reminder of the significant impact that institutional investment can have on market dynamics.
Thumzup Media’s decision to pay its contractors in Bitcoin further underscores the versatility and utility of the currency. As more companies follow MicroStrategy’s lead, we may see an increased focus on cryptocurrency-based compensation packages, potentially opening up new avenues for employee compensation.
While some might argue that this is a reckless strategy, others would argue that it’s a shrewd move.
Source: cryptonewsland.com
