Thumzup Board of Directors Authorizes Allocation of Up to 90% of Surplus Cash to be Held in Bitcoin

Rhea-AI Summary

Thumzup Media (Nasdaq: TZUP) announced its Board of Directors has authorized allocating up to 90% of surplus cash to Bitcoin, following their Treasury Asset Strategy announced in November 2024. The company purchased $1 million in BTC on January 6, 2025, and was subsequently added to The HODL Top 70 ranking of publicly traded companies holding Bitcoin.

The company expressed support for President Trump's recent announcement at Davos regarding making the US the 'World Capital of Artificial Intelligence and Crypto' and his Executive Order establishing the President's Working Group on Digital Asset Markets. The working group will provide recommendations on cryptocurrency regulations within 60 days.

Additionally, Thumzup plans to implement Bitcoin payments for gig-economy workers in the coming weeks, integrating cryptocurrency into its operational framework while ensuring regulatory compliance.

Positive

• Board authorized allocation of up to 90% of surplus cash to Bitcoin
• Already purchased $1 million in Bitcoin on January 6, 2025
• Inclusion in HODL Top 70 ranking of public companies holding Bitcoin
• Plans to implement Bitcoin payments for workforce

Negative

• High concentration risk by allocating up to 90% of surplus cash to volatile cryptocurrency
• Exposure to Bitcoin price volatility could affect company's financial stability

Thumzup CEO Commends President Donald Trump on His Plans to Make the United States a Leader in AI and Cryptocurrencies

Thumzup Purchased $1 Million in BTC on January 6, 2025, with Plans to Continue Accumulating Bitcoin ("BTC")

The Company was Added to The HODL Top 70, a Ranking of Publicly Traded Companies Owning the Most Bitcoin, on January 13, 2025 _[1]

Legislation to Establish Strategic Bitcoin Reserves has been Introduced in Six States _[2]

LOS ANGELES, Jan. 24, 2025 /PRNewswire/ -- Thumzup Media Corporation ("Thumzup" or the "Company") (Nasdaq: TZUP), an emerging leader in social media branding and programmatic marketing solutions, today announced that its Board of Directors has authorized the allocation of up to 90% of the company's surplus cash to be held in Bitcoin. This decision supports the company's ongoing Bitcoin acquisition efforts as part of its Treasury Asset Strategy, announced on November 15, 2024.

This strategic move reflects Thumzup's confidence in Bitcoin as a long-term store of value and a groundbreaking asset class. By diversifying its treasury assets, the company aims to optimize its financial stability and create additional value for shareholders.

"I am excited about President Trump's announcement at Davos on Thursday that he will make the United States the 'World Capital of Artificial Intelligence and Crypto.' Additionally, the President issued an Executive Order titled 'Strengthening American Leadership in Digital Financial Technology' on the same day. This order directs the Secretary of the Treasury, the Chairman of the Securities and Exchange Commission, and the Chairman of the Commodity Futures Trading Commission to establish the President's Working Group on Digital Asset Markets. The working group has been tasked with providing recommendations within 60 days on regulations concerning cryptocurrencies that should be rescinded or modified. I believe this initiative greatly strengthens the future of digital assets like Bitcoin and cryptocurrencies," said Robert Steele, Chief Executive Officer of Thumzup.

In addition to this initiative, Thumzup plans to begin paying gig-economy workers in BTC in the coming weeks, marking a significant step toward integrating Bitcoin into its operational framework. The company is working diligently to ensure compliance with all applicable laws and regulations while enabling a user-friendly payment experience for its workforce.

[1] https://x.com/HODL15Capital/status/1878955046551109760/photo/1
[2] https://bitcoinist.com/oklahoma-becomes-6th-state-to-embrace-bitcoin/

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 U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Contact Info
investors@thumzupmedia.com
800-403-6150

Media Contact
Jessica Starman
media@thumzupmedia.com

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SOURCE Thumzup Media Corporation

FAQ

How much Bitcoin did Thumzup (TZUP) purchase in January 2025?

Thumzup purchased $1 million worth of Bitcoin on January 6, 2025.

What percentage of surplus cash will Thumzup (TZUP) allocate to Bitcoin?

Thumzup's Board of Directors has authorized allocating up to 90% of the company's surplus cash to Bitcoin.

When will Thumzup (TZUP) begin paying workers in Bitcoin?

Thumzup plans to begin paying gig-economy workers in Bitcoin in the coming weeks following the January 24, 2025 announcement.

When was Thumzup (TZUP) added to the HODL Top 70 ranking?

Thumzup was added to The HODL Top 70, a ranking of publicly traded companies owning the most Bitcoin, on January 13, 2025.

What is Thumzup's (TZUP) Treasury Asset Strategy regarding Bitcoin?

Thumzup's Treasury Asset Strategy, announced on November 15, 2024, includes Bitcoin acquisition as part of its approach to optimize financial stability and create shareholder value.