In a latest development, Publicly traded company Thumzup Media Corp has announced that it has added $1 million in Bitcoin to its balance sheet. On January 6, 2025, Thumzup Media Corporation purchased 9.783 Bitcoins for $1,000,020, at an average price of $102,220 per Bitcoin, inclusive of fees and expenses.
Notably, the Company’s Management has requested authorization from its Board of Directors to hold up to 90% of its liquid assets in Bitcoin. Coinbase Prime serves as custodian and provides self-custodial wallet services for the Company’s BTC holdings.
Additionally, Thumzup intends to start paying gig-economy workers in Bitcoin, in line with applicable laws and regulations.
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