Thumzup Buys $1 Million in Bitcoin to Diversify Liquid Assets
Management is Requesting Board Approval to Hold up to 90% of Liquid Assets in Bitcoin
Coinbase’s Prime Platform Serves as Custodian for Thumzup’s BTC
Thumzup Expected to be Added to the HODL Top 70[1]
LOS ANGELES–(BUSINESS WIRE)–Thumzup Media Corporation (“Thumzup” or the “Company”) (Nasdaq: TZUP), an emerging leader in social media branding and programmatic marketing solutions, today announced that it has purchased 9.783 Bitcoin (“BTC”) for approximately $1 million, at an average price of $102,220 per BTC.
Management is requesting authorization from its Board of Directors to hold up to 90% of its liquid assets in BTC for additional, ongoing Bitcoin purchases as part of its Treasury Asset Strategy announced on November 15, 2024.
Coinbase’s (Nasdaq: COIN) Prime platform serves as custodian and provides self-custodial wallet services for Thumzup’s BTC.
Thumzup expects to begin paying gig-economy workers in BTC in the coming weeks, in compliance with all applicable laws and regulations.
About Thumzup®
Thumzup Media Corporation (Thumzup) is democratizing the multi-billion dollar social media branding and marketing industry. Its flagship product, the Thumzup platform, utilizes a robust programmatic advertiser dashboard coupled with a consumer-facing App to enable individuals to get paid cash for posting about participating advertisers on major social media outlets through the Thumzup App. The easy-to-use dashboard allows advertisers to programmatically customize their campaigns. Cash payments are made to App users/creators through PayPal and other digital payment systems.
Thumzup was featured on CBS Los Angeles and in KTLA.
Legal Disclaimer
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about its potential growth, impacts on the advertising industry, plans for potential uplisting, and planned expansion. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in our filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250107594653/en/
Contact Info
[email protected]
800-403-6150
Media Contact
Jessica Starman
[email protected]
KEYWORDS: California United States North America
INDUSTRY KEYWORDS: Social Media Search Engine Marketing Content Marketing Other Communications Technology Marketing Advertising Communications Professional Services Other Technology Media Payments Digital Marketing Mobile/Wireless Cryptocurrency
MEDIA: