Catenaa, Friday, May 09, 2025-AdTech firm Thumzup Media Corporation is looking to raise up to $200 million to expand its bitcoin treasury more than 100-fold, according to a recent U.S. Securities and Exchange Commission filing.
Thumzup, which connects advertisers with social media influencers, currently holds about $1.8 million in bitcoin, equal to 19.106 BTC.
The publicly traded firm plans to sell a mix of stock, warrants and units to fund a massive expansion of its cryptocurrency holdings, mirroring a growing trend among public companies inspired by Michael Saylor’s Bitcoin-centric treasury strategy at MicroStrategy.
The capital raise would bring Thumzup’s bitcoin reserves to over $200 million if fully allocated. The company stated that proceeds may also go toward general corporate purposes. Its bitcoin is custodied by Coinbase.
The move comes just months after Thumzup’s October 2024 Nasdaq debut under the ticker TZUP.
The firm, now valued at roughly $48.5 million, has seen its stock rise nearly 50% in 2025 as it accumulated bitcoin. The company recently claimed more than 900 advertisers have joined its platform, though the announcement did not reference its crypto strategy.
MicroStrategy Chairman Michael Saylor reacted to the news with a cryptic post on X, calling Thumzup “the next Strategy?”
Meanwhile, other companies such as DeFi Development Corp. and Japan’s Metaplanet are also expanding their digital asset holdings in a similar fashion.
