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The Thumzup Media Corporation provides a level for influencers to marketplace assorted products connected societal media to gain revenue.
Donald Trump Jr., the eldest lad of the US president, disclosed an concern successful Thumzup Media Corp, a societal media selling institution that has adopted the Bitcoin (BTC) treasury strategy.
Trump Jr. presently holds 350,000 shares of the company, valued astatine astir $3.3 million, according to Bloomberg, and the banal is presently trading hands astatine astir $9.50 per share.
Thumzup existent stock terms and banal overview. Source: Yahoo FinanceThe company’s committee of directors approved the usage of Bitcoin arsenic a firm treasury plus in November 2024 by green-lighting the acquisition of up to $1 cardinal successful BTC. Company CEO Robert Steele said pursuing the decision:
“With the recently sanctioned Bitcoin ETFs and increasing backing from organization investors, Bitcoin presents a beardown summation to our treasury approach. Its finite proviso and inflation-resistant qualities heighten its relation arsenic a reliable plus for preserving value."In May, the institution besides filed a cosmopolitan support registration with the United States Securities and Exchange Commission (SEC) to raise $200 cardinal done firm indebtedness and equity to concern further Bitcoin acquisitions.
Thumzup’s Bitcoin holdings implicit time. Source: BitcoinTreasuriesThumzup presently holds 19.11 BTC, valued astatine implicit $2.1 million, according to information from BitcoinTreasuries, which it began accumulating successful January.
The proliferation of Bitcoin treasury companies since 2024 has led immoderate analysts to speculate connected the sustainability of the firm treasury exemplary and whether these institutions are present to enactment oregon volition fizzle out, igniting the adjacent prolonged carnivore market.
Related: Trump-linked American Bitcoin raises $220M for mining, treasury
Analysts and BTC maxis formed uncertainty connected Strategy copycats
Strategy co-founder Michael Saylor popularized the Bitcoin treasury conception aft reorienting the concern quality bundle institution into a Bitcoin treasury institution successful 2020.
Since that time, 258 institutions person adopted Bitcoin arsenic portion of their firm reserves, including plus managers, nationalist companies, backstage firms, crypto custodians and authorities organizations, according to BitcoinTreasuries.
A breakdown of the types of organizations holding Bitcoin connected their equilibrium sheets. Source BitcoinTreasuriesHowever, immoderate analysts reason that the inclination is unsustainable and that galore of the Strategy copycats volition fail owed to a deficiency of condemnation successful the supply-capped integer asset.
Bitcoin maximalist Max Keiser said that Saylor and his institution person been battle-tested, weathering erstwhile carnivore markets and continuing accumulation done marketplace cycles, dissimilar newer treasury companies that person not faced a marketplace downturn.
A report from task superior steadfast Breed, published successful June, echoed Keiser’s presumption that most Bitcoin treasury companies volition not survive and volition beryllium forced into a decease spiral erstwhile BTC prices statesman to decline.
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