Donald Trump Jr. has invested approximately $4.3 million to acquire 350,000 shares in Thumzup Media Corp, a Los Angeles-based social media marketing company pivoting toward cryptocurrency treasury diversification. Thumzup's board formally approved Bitcoin treasury holdings in November 2024, initially authorizing up to $1 million in BTC purchases, and currently holds 19.11 BTC valued at over $2.1 million.
The company recently expanded its strategy to include Ethereum (ETH), Ripple (XRP), Solana (SOL), Dogecoin (DOGE), and Litecoin (LTC), citing alignment with younger demographics' preferences. CEO Robert Steele emphasized Bitcoin's "inflation-resistant qualities" as key to their treasury approach, while Trump Jr. noted the investment followed "my advisor's recommendation."
Thumzup's stock surged 75% over four days post-announcement before declining after financial loss disclosures. The firm filed with the SEC in May to raise $200 million via debt/equity for additional Bitcoin acquisitions. Market analysts observe parallels to MicroStrategy's treasury model but caution that 258 similar corporate adopters since 2020 face sustainability challenges during bear markets, with Bitcoin maximalist Max Keiser noting most lack MicroStrategy's "battle-tested" resilience.