Nasdaq-listed company Thumzup buys $1 million worth of BTC

2025-01-08 08:06:38

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ChainCatcher news, according to an official announcement, social media brand and programmatic marketing solutions company Thumzup Media Corporation (NASDAQ: TZUP) has announced that it has purchased 9.783 bitcoins for approximately $1 million, at an average price of $102,220 per bitcoin. The Coinbase Prime platform serves as the custodian, providing self-custody wallet services for Thumzup's BTC.

The announcement states that the company's management is requesting the board's authorization to hold up to 90% of its liquid assets in the form of bitcoin to facilitate ongoing purchases of bitcoin, as part of its fiscal asset strategy announced on November 15, 2024. Thumzup expects to begin paying gig-economy workers in BTC in the coming weeks, while complying with all applicable laws and regulations.

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