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LOS ANGELES - Thumzup Media Corporation (NASDAQ:TZUP), whose stock has surged over 260% year-to-date according to InvestingPro data, announced Wednesday that its board has authorized management to begin accumulating additional cryptocurrencies beyond Bitcoin, including Dogecoin, Litecoin, Solana, Ripple, Ether, and USD Coin.
The company, which describes itself as an emerging player in crypto asset strategies and social media marketing solutions, currently holds 19.106 Bitcoin valued at approximately $2.1 million as of July 8, 2025. With a current ratio of 3.36, the company maintains strong liquidity to support its strategy of holding up to 90% of its liquid assets in Bitcoin.
The latest board resolution allows management to evaluate potential benefits of diversifying the company’s digital asset portfolio with these additional cryptocurrencies.
"Expanding our exploration into other leading cryptocurrencies aligns with our commitment to innovation and prudent treasury management," said Robert Steele, CEO of Thumzup, in a press release statement.
Thumzup’s primary business involves a platform that enables individuals to receive cash payments for posting about participating advertisers on social media through the company’s app.
The announcement comes as more companies explore cryptocurrency as part of their treasury management strategies, though the practice remains relatively uncommon among publicly traded firms. While the $116.55M market cap company shows strong momentum, InvestingPro analysis suggests the stock may be overvalued at current levels. Discover 10+ additional exclusive insights and real-time metrics with InvestingPro.
In other recent news, Thumzup Media Corporation has successfully closed a $6.5 million registered direct offering, raising approximately $6.04 million in net proceeds. The offering included shares of Series C Convertible Preferred Stock, which are convertible into common stock. The company plans to use the funds for general corporate purposes and to explore cryptocurrency investments. Thumzup has also reached a milestone by surpassing 1,000 advertiser locations on its AdTech platform, reflecting significant growth in market penetration. Additionally, Thumzup is set to join the Russell Microcap Index, a move that could enhance shareholder value through index-fund driven accumulation. In a strategic move, Thumzup has integrated Stripe’s "Pay with Crypto" feature, allowing advertisers to pay using stablecoins like USDC, aligning with its strategy to increase Bitcoin holdings. The company has disclosed it can allocate up to 90% of its liquid assets to Bitcoin, with Coinbase Prime as the custodian. These developments highlight Thumzup’s ongoing efforts to innovate and expand in the digital and advertising sectors.
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