Donald Trump Jr. revealed an investment with Thumzup Media Corp., a company that uses the Bitcoin for social media marketing.BTCTreasury strategy.
Trump Jr. holds approximately $3.3 million worth of shares, or 350,000 shares, in his company. BloombergThe stock currently trades at around $9.50 a share.
The Board of Directors is responsible for the management and governance of a company. approved Use of Bitcoin as a corporate treasury asset By November 2024, BTC will allow the purchase of BTC up to $1 million. Robert Steele, the CEO of Steele Company said after the decision that:
“With the newly sanctioned Bitcoin ETFs and growing backing from institutional investors, Bitcoin presents a strong addition to our treasury approach. Its finite supply and inflation-resistant qualities enhance its role as a reliable asset for preserving value.”
In May the company registered a Universal Shelf Registration with the United States Securities and Exchange Commission. raise 200 million dollars in corporate debt and equity will be used to fund further Bitcoin purchases.
Thumzup has 19.11 BTC valued at $2.1M, according to data. BitcoinTreasuriesThe accumulation began in January.
You can also find out more about the following: proliferation of Bitcoin treasury companies Since 2024, some analysts have speculated on whether the corporate Treasury model will last or if these institutions will fade away and spark the next extended bear market.
Related: Trump-linked American Bitcoin raises $220M for mining, treasury
BTC Maxis and analysts doubt Strategy copies
Michael Saylor is the co-founder and founder of the Strategy company. He popularized Bitcoin treasury after changing the company’s business intelligence software into Bitcoin treasury in 2020.
Since then, 258 institutions, including public companies, asset managers and custodians of crypto assets, as well as government entities, have added Bitcoin to their corporate reserves. BitcoinTreasuries.
The trend, according to some analysts is not sustainable and many people are concerned about the future. Strategy copycats will fail A lack of belief in a digital asset with an upper limit on supply.
Bitcoin maximalist Max Keiser said Saylor, his company, and their history of surviving bear markets as well as accumulating through the cycles is a testament to this.
You can also find out more about the A-Team here. report Breed Venture Capital, in a June publication, also echoed Keiser’s point of view. most Bitcoin treasury companies will not survive The price of BTC will begin to drop, and the industry will enter a spiral downward.
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Source: cointelegraph.com
