- Thumzup Media Corporate has adopted Bitcoin as a Treasury Reserve asset similar to strategy.
- The company aims to sell standard stock, preferred stock, and warrant units to strengthen BTC handling.
The Thumzup Media Corporation (NASDAQ: TZUP), a Los Angeles-AS-A-A-Service (SAAS) company dedicated to social media and advertising marketing, has filed a form S-3 with the United States Securities and Exchange Commission (SEC) to offer up to $ 200 million. The company has announced that it may participate in one or more offerings to sell standard stock, preferred stock, warrants units, or a combination of security
“Unless if indicated in a Prospectus supplement, we intend to use net income from the sale of security under this prospectus for general corporate purposes, including buying bitcoin as our main reserve of owner,” the company mentioned.
Thumzup has adopted Bitcoin as a treasury reserve and has since accumulated around 29 BTC. In the long run, Thumzup plans to hold up to 90 percent of its excess in Bitcoin. Additionally, the company is referred to as ranking with the top 70 companies that have exchanged publicly with Bitcoin.
Impact on Bitcoin price action
According to the data from BitcointreasuriesAround 190 creatures, led by public companies, hold more than 3.26 million BTCs. The entry of countries-states into the Bitcoin market has accelerated its adoption of institutional investors seeking to open up against uncertainty and high inflation.
Bitcoin prices are expected to follow the global money supply (M2) and gold in parabolically, which is -catalyzed of heavy demand. From a technical review, the BTC price is well positioned to reach a new all-time high before the end of the second quarter of 2025.
