Thumzup, a social media marketing company traded on the Nasdaq, has announced the acquisition of 9.783 BTC, valued at $1 million. The average purchase price was $102,220 per coin. Thumzup's purchase is part of its corporate treasury strategy, which includes using Bitcoin as an inflation hedge. The company had previously stated in November that it intended to allocate a portion of its treasury to Bitcoin. In addition, Thumzup plans to commence paying some of its employees in Bitcoin in the coming weeks. This move aligns with the company's belief in the long-term potential of Bitcoin and its commitment to providing innovative compensation options to its employees. Thumzup's investment in Bitcoin underscores the growing adoption of digital assets by mainstream companies. As Bitcoin gains wider acceptance as a legitimate investment and store of value, it is likely that more companies will follow Thumzup's lead in allocating a portion of their treasuries to the asset.

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