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Nasdaq-listed Thumzup authorized to hold up to $250M in BTC, ETH, XRP, and DOGE
Thumzup Media Corporation, a California-based SaaS company specializing in social media branding and marketing, has received authorization from its board of directors to hold up to $250 million in various crypto assets. This bold move follows recent US regulatory developments that have created a favorable environment for the investment.
As per the announcement made by the company, Thumzup’s portfolio currently holds 19 Bitcoin worth approximately $2.3 million and is now set to expand its offerings to include Ethereum, Solana, XRP, Dogecoin, Litecoin, and USDC. The exact allocation plan has not been disclosed.
Robert Steele, CEO of Thumzup, emphasized the company’s commitment to staying ahead of the crypto innovation curve, aligning with the Trump administration’s increasing openness to cryptocurrency. The recent passage of three major crypto bills by US lawmakers, including the GENIUS Act, signals a significant shift in regulatory sentiment.
Thumzup has demonstrated its confidence in the digital asset market by diversifying its portfolio and embracing new opportunities. This strategic move aims to create substantial value for its shareholders, according to Steele. Notably, Donald Trump Jr., one of Thumzup’s investors, owns 350,000 shares in the company.
Thumzup’s shares (TZUP) experienced a significant increase in after-hours trading following the announcement. The stock has climbed approximately 84% over the past month.
Source: cryptobriefing.com
