Thumzup Media Corporation (Nasdaq: TZUP), a leading innovator in social media branding and marketing solutions, has announced its decision to incorporate Bitcoin into its treasury reserves. The company’s Board of Directors has authorized the acquisition of up to $1 million in Bitcoin, marking a significant step in its financial strategy.
Robert Steele, Chief Executive Officer of Thumzup, stated, “As demand for Bitcoin increases and it gains recognition as a leading asset class, we believe it will serve as a robust reserve asset for our treasury.”
He highlighted the influence of newly sanctioned Bitcoin ETFs and growing institutional support, noting Bitcoin’s finite supply and inflation-resistant qualities as key factors in this strategic move.
Thumzup’s flagship platform enables businesses and brands to compensate customers and fans through Venmo and PayPal for their social media posts. The platform features an advertiser dashboard and a consumer-facing app, facilitating seamless interactions between advertisers and users. Payments are processed through digital systems like PayPal, enhancing user experience and engagement.
This initiative aligns Thumzup with a growing trend among corporations adopting Bitcoin as a treasury reserve asset. Notably, MicroStrategy Inc. has significantly increased its Bitcoin holdings, recently purchasing $2.03 billion worth of the cryptocurrency, bringing its total to 279,420 bitcoins valued at $24 billion.
MicroStrategy CEO Phong Le announced plans to raise $42 billion over three years for further Bitcoin acquisitions.
Thumzup’s decision underscores a broader movement among companies seeking to leverage Bitcoin’s potential as a hedge against inflation and a means to preserve value in an increasingly digital economy.
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