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crypto.news 2025-07-10 06:35:11

Donald Trump Jr. acquires stake in Bitcoin-heavy social media company Thumzup

Donald Trump Jr. acquires stake in Bitcoin-heavy social media company Thumzup

President Donald Trump’s eldest son, Donald Trump Jr., has invested in Thumzup Media Corp., a social media firm building a Bitcoin treasury. According to Bloomberg , Trump Jr. acquired 350,000 shares of the Los Angeles-based company, valued at over $4 million at the time of disclosure. Notably, the purchase was made following a recommendation from his investment adviser, and he has no active role within the company. The stake was revealed shortly after a $6 million private placement of convertible preferred stock, arranged by Dominari Securities, where both Donald Jr. and his brother Eric Trump serve as advisers to the parent company. Thumzup, which operates an app that pays users to promote products on platforms like Instagram, has posted minimal revenue alongside net losses. In the first quarter of 2025, the firm reported a $2.2 million loss on just $151 in revenue. Despite the financial performance, the firm has attracted attention due to its Bitcoin-forward treasury strategy. You might also like: BREAKING: Bitcoin price hits record high as ETF demand overwhelms bearish market setup Thumzup’s involvement with Bitcoin began in November 2024, when its board approved plans to purchase up to $1 million in BTC to diversify corporate reserves at a time when institutional support for Bitcoin was taking off and massive inflows into spot Bitcoin ETFs were making headlines. By January 2025, Thumzup doubled down on its strategy, increasing its holdings to 19.106 BTC, then valued at approximately $2 million, and authorizing up to 90% of its surplus cash for Bitcoin allocation. It has also paid some of its Associate Salesperson Program participants in Bitcoin as part of its adoption strategy. As previously reported by crypto.news, Thumzup recently amended its universal shelf registration filing with the SEC to be able to raise up to $500 million over the next three years. While the registration is not yet effective, the company has disclosed plans to allocate some of the proceeds to expand its Bitcoin treasury. The Trumps and crypto For the Trump family, the move builds on a steady progression of crypto-linked activity. Beyond their roles at Dominari , Eric Trump recently joined the advisory board of Metaplanet, a Japanese firm known for holding Bitcoin on its balance sheet. Meanwhile, Trump Media & Technology Group, parent to Truth Social, has raised $2.3 billion with plans to allocate funds toward Bitcoin. At the same time, their venture World Liberty Financial, launched by Donald Trump and his sons, has issued a stablecoin , recently attracted over $100 million from a UAE fund , and reportedly generated tens of millions in revenue . Read more: Nasdaq leads the stock market as Nvidia wins race to $4T in valuation

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