Thumzup Board Greenlights Crypto Expansion Beyond Bitcoin

Thumzup Media Corporation has received board authorisation to explore expanding its cryptocurrency reserves to include a broader mix of digital assets beyond Bitcoin. 

The firm is now considering whether to invest in Ethereum, Dogecoin, Solana, XRP, Litecoin, and the USDC stablecoin. This exploration follows a recent capital injection of US$6.5 million (AU$9.92 million), which may help facilitate potential purchases.

Company CEO Robert Steele clarified that no new assets have been added yet. At this stage, the board’s approval is limited to conducting a review, not making acquisitions. He said the evaluation aims to determine what will serve shareholder interests most effectively.

We believe that a diversified approach to digital assets could enhance our financial flexibility as we continue to scale our AdTech platform and grow our advertiser base.

Robert Steele, CEO of Thumbzup Media Corporation

Related: Trump Media files for ‘Truth Social Crypto Blue Chip ETF’ Featuring BTC, ETH, SOL, CRO & XRP

From Bitcoin to Broader Crypto Exposure

Thumzup currently holds 19.11 BTC, worth more than US$2.1 million (AU$3.21 million), accumulated since the start of the year. A policy enacted in late 2024 permits the company to allocate as much as 90% of its liquid capital into Bitcoin.

Despite its Bitcoin-centric strategy and expansion plans, Thumzup reported just US$151 (AU$231) in revenue for Q1 2025, a net loss of US$2.2 million (AU$3.36 million). Shares dropped more than 14% following the announcement.

Donald Trump Jr. has acquired 350,000 shares in Thumzup, with the stake now worth roughly US$4 million (AU$6.11 million). He made the investment on the advice of a financial adviser and has no direct involvement in the company. His purchase follows a private offering managed by Dominari Securities.

Founded in 2020, the California-based firm operates a social platform that pays users to post brand-sponsored content across networks like Instagram. Advertisers can customise their campaigns, and influencers are compensated through digital payment methods such as PayPal.

The company joins 143 publicly traded firms that now include Bitcoin on their books – collectively holding US$93.3 billion (AU$142.5 billion), led by Strategy with US$66 billion (AU$100.8 billion).

Related: Strategy Adds US$26M in Bitcoin, Marking Slower Pace in Saylor’s Buying Spree