Key Points
- Thumzup Media Corporation has increased its Bitcoin holdings to 19.106 BTC, totalling a $2 million investment.
- The company’s Bitcoin strategy includes compensating gig economy workers in Bitcoin through its Associate Salesperson Program.
Thumzup Media Corporation has now increased its Bitcoin holdings, which are now at 19.106 BTC. This has resulted in the company’s investment in digital assets reaching $2 million.
The company is allowed to put up to 90% of its excess cash into Bitcoin. This step is in line with Thumzup’s more extensive strategy of incorporating cryptocurrency into its financial operations.
Bitcoin Strategy and Gig Economy
The company’s Bitcoin strategy extends to paying gig economy workers in Bitcoin via its Associate Salesperson Program. Thumzup sees this as a chance to utilize blockchain technology and artificial intelligence to improve digital engagement and financial transactions.
In November, Thumzup revealed plans to purchase up to $1 million in Bitcoin to diversify its treasury holdings.
Bitcoin Holdings and Institutional Acceptance
Thumzup’s most recent Bitcoin acquisition is expected to enhance its position in The HODL Top 70. This is a list of publicly traded companies with the largest Bitcoin holdings.
Robert Steele, the company’s CEO, mentioned that the increasing institutional acceptance of Bitcoin and the introduction of Bitcoin exchange-traded funds have solidified its status as a financial asset. He also reiterated the company’s faith in Bitcoin as a treasury asset and a tool for financial innovation.
Steele expressed, “We see Bitcoin not only as a strategic asset for treasury management but also as a fundamental component of our vision for the future of digital finance.”
This investment has come at a time when broader legislative discussions are taking place. Six U.S. states have put forth proposals to establish strategic Bitcoin reserves.
