Thumzup Media (Nasdaq: TZUP) has announced the purchase of 9.783 Bitcoin (BTC) for approximately $1 million, at an average price of $102,220 per BTC. The company’s management is seeking board approval to hold up to 90% of its liquid assets in BTC as part of its Treasury Asset Strategy announced on November 15, 2024.
The company has partnered with Coinbase’s Prime platform as custodian for its Bitcoin holdings and plans to begin paying gig-economy workers in BTC in the coming weeks, subject to applicable regulations.
Thumzup Media (Nasdaq: TZUP) ha annunciato l’acquisto di 9.783 Bitcoin (BTC) per circa 1 milione di dollari, a un prezzo medio di 102.220 dollari per BTC. La gestione dell’azienda sta cercando l’approvazione del consiglio per mantenere fino al 90% dei suoi attivi liquidi in BTC come parte della sua Strategia di Attività di Tesoreria annunciata il 15 novembre 2024.
L’azienda ha collaborato con la piattaforma Prime di Coinbase come custode dei suoi Bitcoin e prevede di iniziare a pagare i lavoratori dell’economia collaborativa in BTC nelle prossime settimane, soggetto alle normative applicabili.
Thumzup Media (Nasdaq: TZUP) ha anunciado la compra de 9.783 Bitcoin (BTC) por aproximadamente 1 millón de dólares, a un precio promedio de 102.220 dólares por BTC. La dirección de la empresa está buscando la aprobación del consejo para mantener hasta el 90% de sus activos líquidos en BTC como parte de su Estrategia de Activos de Tesorería anunciada el 15 de noviembre de 2024.
La empresa se ha asociado con la plataforma Prime de Coinbase como custodio de sus tenencias de Bitcoin y planea comenzar a pagar a los trabajadores de la economía colaborativa en BTC en las próximas semanas, sujeto a las regulaciones aplicables.
Thumzup 미디어 (Nasdaq: TZUP)는 9,783 비트코인(BTC)을 약 100만 달러에 평균 102,220 달러의 가격으로 구매했다고 발표했습니다. 회사 경영진은 2024년 11월 15일에 발표된 재무 자산 전략의 일환으로 유동 자산의 최대 90%를 BTC로 보유하기 위해 이사회의 승인을 요청하고 있습니다.
회사는 코인베이스 프라임 플랫폼과 협력하여 비트코인 보유의 수탁자로 활동하며, 향후 몇 주 안에 관련 규정에 따라 비트코인으로 기구 경제 노동자에게 지급할 계획입니다.
Thumzup Media (Nasdaq: TZUP) a annoncé l’achat de 9.783 Bitcoin (BTC) pour environ 1 million de dollars, à un prix moyen de 102.220 dollars par BTC. La direction de l’entreprise recherche l’approbation du conseil pour détenir jusqu’à 90 % de ses actifs liquides en BTC dans le cadre de sa stratégie d’actifs de trésorerie annoncée le 15 novembre 2024.
L’entreprise s’est associée à la plateforme Prime de Coinbase en tant que dépositaire de ses avoirs en Bitcoin et prévoit de commencer à payer les travailleurs de l’économie de gig en BTC dans les semaines à venir, sous réserve des réglementations applicables.
Thumzup Media (Nasdaq: TZUP) hat den Kauf von 9.783 Bitcoin (BTC) für etwa 1 Million US-Dollar angekündigt, zu einem durchschnittlichen Preis von 102.220 US-Dollar pro BTC. Das Management des Unternehmens strebt die Genehmigung des Vorstands an, um bis zu 90% seiner liquiden Mittel in BTC als Teil seiner am 15. November 2024 angekündigten Treasury-Asset-Strategie zu halten.
Das Unternehmen hat sich mit der Prime-Plattform von Coinbase als Verwahrer seiner Bitcoin-Bestände zusammengeschlossen und plant, in den kommenden Wochen Gig-Economy-Arbeiter in BTC zu bezahlen, vorbehaltlich der geltenden Vorschriften.
Positive
- Strategic investment of $1M in Bitcoin diversifies liquid assets
- Partnership with established custodian (Coinbase Prime) for secure BTC storage
- Planned implementation of BTC payments for gig workers could reduce transaction costs
Negative
- High exposure to crypto volatility with potential 90% of liquid assets in BTC
- Regulatory risks associated with cryptocurrency payments to workers
Insights
Management is Requesting Board Approval to Hold up to
Coinbase’s Prime Platform Serves as Custodian for Thumzup’s BTC
Thumzup Expected to be Added to the HODL Top 70[1]
Thumzup Media Corporation (“Thumzup” or the “Company”) (Nasdaq: TZUP), an emerging leader in social media branding and programmatic marketing solutions, today announced that it has purchased 9.783 Bitcoin (“BTC”) for approximately
Management is requesting authorization from its Board of Directors to hold up to
Coinbase’s (Nasdaq: COIN) Prime platform serves as custodian and provides self-custodial wallet services for Thumzup’s BTC.
Thumzup expects to begin paying gig-economy workers in BTC in the coming weeks, in compliance with all applicable laws and regulations.
About Thumzup®
Thumzup Media Corporation (Thumzup) is democratizing the multi-billion dollar social media branding and marketing industry. Its flagship product, the Thumzup platform, utilizes a robust programmatic advertiser dashboard coupled with a consumer-facing App to enable individuals to get paid cash for posting about participating advertisers on major social media outlets through the Thumzup App. The easy-to-use dashboard allows advertisers to programmatically customize their campaigns. Cash payments are made to App users/creators through PayPal and other digital payment systems.
Thumzup was featured on CBS Los Angeles and in KTLA.
Legal Disclaimer
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about its potential growth, impacts on the advertising industry, plans for potential uplisting, and planned expansion. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in our filings with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20250107594653/en/
Contact Info
investors@thumzupmedia.com
800-403-6150
Media Contact
Jessica Starman
media@thumzupmedia.com
Source: Thumzup Media Corporation
FAQ
How much Bitcoin did Thumzup (TZUP) purchase in their recent investment?
Thumzup purchased 9.783 Bitcoin (BTC) for approximately $1 million, at an average price of $102,220 per BTC.
What percentage of liquid assets does TZUP plan to hold in Bitcoin?
Management is requesting board approval to hold up to 90% of its liquid assets in Bitcoin.
Which platform is providing custody services for Thumzup’s Bitcoin holdings?
Coinbase’s Prime platform serves as custodian and provides self-custodial wallet services for Thumzup’s Bitcoin holdings.
When did Thumzup announce its Treasury Asset Strategy?
Thumzup announced its Treasury Asset Strategy on November 15, 2024.
What are Thumzup’s plans for Bitcoin payments to workers?
Thumzup expects to begin paying gig-economy workers in Bitcoin in the coming weeks, in compliance with applicable laws and regulations.
