Thumzup Media Acquires $1M Worth of Bitcoin, Plans to Convert 90% of Liquid Assets into BTC

Thumzup Media Corporation (NASDAQ:TZUP), a company specializing in social media branding and programmatic marketing, has acquired 9.783 Bitcoin (BTC) for an approximate total of $1 million.

Social media branding and programmatic marketing company Thumzup Media Corporation (NASDAQ:TZUP) has announced the purchase of 9.783 Bitcoin (CRYPTO: BTC) for an approximate total of $1 million.

The company disclosed in a press release statement that the average purchase price per Bitcoin was $102,220. Thumzup also announced its intent to potentially convert up to 90% of its liquid assets into Bitcoin, pending approval from its Board of Directors.

This move is part of Thumzup's Treasury Asset Strategy, which was initially announced on November 15, 2024.

Coinbase's (NASDAQ:COIN) Prime platform, operated by the $66.91 billion market cap cryptocurrency exchange, is currently responsible for the custodial services of Thumzup's Bitcoin holdings.

According to InvestingPro data, Coinbase has demonstrated robust performance with a 90.33% revenue growth over the last twelve months.

Thumzup is preparing to remunerate gig-economy workers using Bitcoin in the upcoming weeks, ensuring compliance with applicable laws and regulations.

Thumzup's engagement with cryptocurrency aligns with its innovative approach to the social media marketing industry. Its platform connects advertisers with social media users, who can earn cash for promoting products on major outlets.

Payments to these users are made through digital platforms like PayPal (NASDAQ:PYPL).

This strategic pivot towards cryptocurrency by Thumzup indicates a significant commitment to integrating digital assets into its financial operations.

The information regarding Thumzup's Bitcoin purchase and its potential future acquisitions is based on a press release statement from the company.

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