BlockBeats news, on January 8, social media brand and programmatic marketing solution Thumzup Media Corporation (abbreviated as 'Thumzup') (NASDAQ: TZUP) announced today that it has purchased 9.783 bitcoins (BTC) for approximately $1 million, with an average purchase price of $102,220 per coin.
The company's management is requesting authorization from the board to hold up to 90% of its liquid assets in the form of bitcoin for ongoing purchases of bitcoin. This is part of the company's 'Treasury Asset Strategy' announced on November 15, 2024.
The Coinbase Prime platform provides custody services for Thumzup and offers self-custody wallet services. Thumzup expects to start paying gig economy workers in bitcoin in the coming weeks while ensuring compliance with all applicable laws and regulations.
