Thumzup Expands Crypto Holdings
Thumzup Media, a Los Angeles-based social media marketing and crypto investment firm, announced its Board of Directors approved a plan to significantly expand its cryptocurrency holdings beyond its existing $2 million+ Bitcoin investment.
Key Developments
- Expanded Crypto Treasury: Thumzup will acquire Ether (ETH), Ripple (XRP), Solana (SOL), Dogecoin (DOGE), Litecoin (LTC), and USD Coin (USDC).
- Donald Trump Jr. Investment: A recent Bloomberg report revealed Donald Trump Jr. owns 350,000 shares in Thumzup, valued at over $4 million. This investment is reportedly based on the advice of his financial advisor and does not represent an active role within the company.
- Financial Performance: Thumzup reported a first-quarter 2025 loss of over $2 million on $151 in revenue. Shares fell nearly 14% in intraday trading.
This move reflects a growing trend among Trump-affiliated entities adopting crypto treasury strategies. For example, Trump Media (parent company of Truth Social) aims to allocate $2.3 billion to Bitcoin, and Dominari is actively investing in Bitcoin ETFs.
Thumzup's Crypto Strategy
Thumzup's decision to diversify its crypto portfolio into established altcoins like Ether, XRP, and Solana underscores a broader trend in the market. While the company's current financial performance presents challenges, its strategic focus on crypto investments and high-profile backing remain notable aspects of its trajectory. This strategy could attract further investors interested in exposure to both the social media marketing sector and the growing cryptocurrency market.
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