Summary:
– Thumzup transitions from a Bitcoin-exclusive focus to a $250 million diversified cryptocurrency portfolio, incorporating altcoins and stablecoins.
– A $4 million investment from Trump Jr. and evolving U.S. crypto regulations bolster Thumzup’s growth plans.
– XRP surges to $3.65, while Thumzup’s stock rises 267% since the start of the year, attracting investors to the crypto market.
Thumzup Broadens Crypto Investments Beyond Bitcoin
Thumzup Media Corporation, a firm listed on Nasdaq, has unveiled a $250 million initiative to broaden its cryptocurrency investments. The company’s board has sanctioned this strategy, which includes assets like XRP, USDC, ETH, SOL, DOGE, and LTC. Previously holding only Bitcoin—with 19 BTC valued at approximately $2.3 million—Thumzup aims to build a more diverse portfolio, transitioning from a single-asset focus to a variety of tokens, with allocations based on market trends and risk management policies.
CEO Highlights U.S. Regulatory Developments and Market Opportunities
CEO Robert Steele noted the decision aligns with the U.S. approaching clearer regulations for digital assets. “As the federal government adopts more crypto-friendly policies, Thumzup is dedicated to leading in this evolving technology,” he stated.
Steele also spoke on the firm’s long-term vision. “Diversifying our crypto portfolio allows us to capture broader market exposure, positioning Thumzup to generate value for our shareholders,” he added. This move coincides with the introduction of the GENIUS Act and the CLARITY Act.
Trump Jr.’s Investment and Market Activity Propel Growth
The strategy follows Donald Trump Jr.’s acquisition of 350,000 shares in Thumzup Media, valued at roughly $4 million. He and Eric Trump are advisors to Dominari Securities, which recently managed a $6 million private placement for the company.
Thumzup shares are currently priced at $12.59, according to Google Finance, reflecting an 84% increase over the past month and a 267% rise since January. The $250 million crypto strategy has piqued interest from investors and analysts alike.
Thumzup operates a platform enabling users to earn via sponsored social media posts, tracked through an internal dashboard. Traditionally, payouts were made via PayPal, but future plans include crypto-based payment options.
Recently, XRP achieved a new high of $3.65, and as of the latest update, it’s trading at $3.42, marking a 26% increase over the last week, according to CoinMarketCap.
The original article “Thumzup Backs XRP as It Hits ATH in $250M Crypto Shift” was published on CryptoPotato.
