Thumzup Media Corporation (NASDAQ: TZUP), an LA-based SaaS firm with expertise in social media advertising and marketing, has made a risky move by adopting Bitcoin as its core treasury reserve asset.
The firm recently submitted a Form S-3 to the U.S. Securities and Exchange Commission (SEC), indicating its intent to raise up to $200 million by issuing common stock, preferred stock, and warrant units. The proceeds will mainly go towards expanding its Bitcoin holdings.
Currently, Thumzup holds approximately 19.106 Bitcoins and has plans to amass many more. Thumzup has announced plans to invest as much as 90% of its surplus capital into Bitcoin over the long run.
The company’s action aligns with other visionary companies that have taken Bitcoin on as a means of insurance against inflation and economic volatility, just like Strategy, which blazed the corporate Bitcoin reserve path.
On X, Michael Saylor, the founder of Strategy, praised this move by saying, “they have 19 BTC now… soon thousands. The next Strategy?”
By doing so, Thumzup aims to join the top 70 listed companies that have Bitcoin on their balance sheets. The strategy of the company is part of a larger market trend in which businesses and institutional investors are increasingly looking at Bitcoin as a secure store of value and a substitute for traditional fiat reserves.
Underlining this trend, Saylor recently posted a chart on X illustrating Strategy (MSTR) with an 88.7% Open Interest/Market Cap ratio. This figure far exceeds Tesla (28.6%) and other tech behemoths such as Meta, Nvidia, and Microsoft.
This highlights how profoundly Bitcoin strategy is restructuring market dynamics and investor interest in firms with material BTC exposure.
Also Read: Michael Saylor’s Strategy Plans $84 Billion Bitcoin Investment
