- Thumzup Media Corporate adopted Bitcoin as a cash reserve asset similar to the strategy.
- The company intends to sell ordinary shares, privileged actions and guarantee units to strengthen its BTC assets.
Thumzup Media Corporation (NASDAQ: TZUP), a Software-AS-A-Service (SaaS) company based in Los Angeles focused on marketing and social media advertising, filed the S-3 form with the United States Securities and Exchange Commission (SEC) to offer up to 200 million dollars. The company has announced that it could participate in one or more offers to sell ordinary shares, privileged actions, mandate units or a combination of titles
“Unless otherwise indicated in a supplement of prospectus, we intend to use the net product of the sale of securities under this prospectus for general companies, including for the purchase of Bitcoin as the main reserve real estate,” noted the company.
Thumzup has adopted bitcoin as a cash reserve and has since accumulated about 29 BTC. In the long term, Thumzup intends to hold up to 90% of its Bitcoin surplus. In addition, the company is determined to rank among the 70 best listed companies on Bitcoin.
Impact on the action of the price of bitcoin
According to Bitcointheries data, around 190 entities, led by public companies, hold more than 3.26 million BTC. The entry of nation states into the bitcoin market has accelerated its adoption by institutional investors seeking to cover themselves against macroeconomic uncertainty and high inflation.
The price of Bitcoin should follow the world money supply (M2) and gold by rallying parabolically, catalyzed by strong demand. According to a technical analysis, the price of the BTC is well positioned to reach a new summit of all time before the end of the second quarter of 2025.
