Thumzup Media's $250M Crypto Investment Plan

Thumzup Media Corporation, an advertising technology firm with Donald Trump Jr. as an investor, has received board approval to acquire up to $250 million in cryptocurrency assets, including Bitcoin and other prominent digital currencies. In a statement released Thursday, the company announced its authorization to hold a range of cryptocurrencies such as Bitcoin, Ether, Solana, XRP, Dogecoin, Litecoin, and the USDC stablecoin. CEO Robert Steele attributed the decision to favorable policy changes that have encouraged the company to adopt a crypto investment strategy. He stated, "By diversifying our cryptocurrency portfolio, we aim to enhance our market exposure and create substantial value for TZUP shareholders. As the U.S. government moves towards more crypto-friendly regulations, Thumzup is determined to lead in this evolving technological landscape." Established in 2020 in Los Angeles, Thumzup operates a platform that allows users to earn money by promoting branded content on social media. Alongside its advertising venture, the company recently announced intentions to broaden its treasury to incorporate major alternative cryptocurrencies. In a previous update, Thumzup revealed that Donald Trump Jr. owns 350,000 shares of the company, valued at approximately $4 million as per Bloomberg's report. This information follows a recent private placement of $6 million worth of Thumzup's convertible preferred stock, coordinated by Dominari Securities. Both Donald Trump Jr. and his brother Eric serve as advisors to Dominari's parent company. Thumzup reported a net loss of $2.2 million in the first quarter of this year, compared to a net loss of $330,712 in the same quarter last year. The company's stock ended down 2.93% at $12.59 on Thursday; however, it has risen 16.9% in the last five days and is up 267% year-to-date.