Thumzup Media Corporation, a social marketing firm with Donald Trump Jr. as a shareholder, has raised $50 million to expand its involvement in cryptocurrency and mining. The company announced plans to invest in cryptocurrency holdings and establish large-scale cryptocurrency mining operations. Having already acquired 19.1 Bitcoin in January, Thumzup intends to enhance its infrastructure by purchasing advanced mining rigs and engaging with technology providers. As Bitcoin reaches an all-time high of over $124,000, Thumzup's stock (TZUP) saw a gain of 7.62% in after-hours trading. In addition to Bitcoin, the firm is also looking to invest in other cryptocurrencies, including Dogecoin and Ethereum, with a total crypto investment cap of $250 million. This marks a significant step in increasing the Trump family's investment in the crypto market, as Trump Jr. alone holds 350,000 shares valued at approximately $3.3 million. Amidst rising prices, other firms like H100 Group are also increasing their Bitcoin acquisitions, reflecting a growing trend of institutional investment in digital assets.

Source 🔗