Key takeout
- Thumzup Media Corporation is permitted to hold up to $250 million in a variety of crypto assets.
- The company's portfolio includes BTC, ETH, SOL, XRP, DOGE, LTC, and USDC.
SaaS Company, Thumzup Media Corporation, a California-based SaaS Company specializing in social media branding and marketing; announcement On Thursday, it secured approval from the board of directors to hold crypto assets up to $250 million.
The NASDAQ-registered company currently holds 19 Bitcoins worth around $2.3 million and plans to invest in major Altcoins such as Ethereum, Solana, XRP, Dogecoin, Litecoin, USDC. That's how the expansion was Approved by its board Early this month.
Details of planned allocations for each coin have not been revealed.
Thumzup CEO Robert Steele said in a statement that diversifying Thumzup's portfolio is part of the company's commitment to maintaining Crypto Innovation.
On Thursday, US lawmakers passed three major cryptography bills, including the Genius Act. Heading to Trump's desk For signatures. Passing these bills has long been a victory for custody policymakers and the digital asset industry, and has dealt with regulatory uncertainty.
“By diversifying our cryptocurrency portfolio and gaining wide exposure across the market, we believe Thumzup is best positioned to create significant value for Tzup shareholders,” says Steele.
Donald Trump Jr. is one of Thumzup's shareholders. Trump's eldest son owns 350,000 shares in the company, according to Bloomberg.
Thumzup stock (TZUP) rose in trading outside of business hours, according to Yahoo Finance data. The stock has risen by about 84% over the past month.
