Thumzup Media Corporation, where Donald Trump Jr. holds a significant stake, has secured $50 million to accelerate its cryptocurrency strategy. Raised via a $10-per-share offering, the capital will fund large-scale mining operations and expand its crypto holdings.
The firm, originally a social media marketing platform, has pivoted into digital assets, already holding 19.1 BTC valued at $2.36 million.
Plans include diversifying into Ether, Dogecoin, Solana, Litecoin, XRP, and USDC, with board approval to hold up to $250 million in crypto. Trump Jr. increased his stake earlier this year by acquiring 350,000 shares worth $3.3 million.
The announcement came as Bitcoin reached a record $124,128 before easing to $123,683. Thumzup shares surged 6.73% in after-hours trading on Wednesday. With fresh funding and mining ambitions, the company aims to become a major player in the crypto sector, reflecting a growing trend of publicly traded firms using digital assets to boost shareholder value.
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