Donald Trump Jr. disclosed an investment into Thumzup Media Corp. a social marketing company which has adopted Bitcoin.BTCThe Treasury Strategy.
Trump Jr. owns 350,000 shares in the company valued at $3.3 Million, according to reports. BloombergThe stock currently trades at around $9.50 a share.
The Board of Directors is responsible for the management and governance of the business. approved Use of Bitcoin as a corporate treasury asset In November 2024, the company will be able to purchase up to $1,000,000 in BTC. 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.
According to data provided by, Thumzup holds 19,11 BTC worth over $2.1 Million. BitcoinTreasuriesIt began to accumulate in January.
It is important to note that the word “you” means “the”. proliferation of Bitcoin treasury companies Some analysts speculate that since 2024 the model of corporate treasury will be sustainable and whether it is here to remain or will die out. This could spark a new prolonged bear market.
Related: Trump-linked American Bitcoin raises $220M for mining, treasury
BTC Maxis analysts cast doubts on Strategy Copycats
Michael Saylor is the co-founder and founder of the Strategy company. He popularized Bitcoin treasury after changing the direction of the Business Intelligence Software Company in 2020.
According to the report, since then, there are 258 organizations that have included Bitcoin in their corporate reserve, such as asset managers, government agencies, companies and private firms. BitcoinTreasuries.
Some analysts, however, argue that this trend cannot be sustained and that most of the 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.
The following are some of the ways to get in touch with each other 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
