Trump Jr.-tied firm raises $50M for crypto, mining as Bitcoin peaks
Main Idea
Thumzup Media Corporation, with Donald Trump Jr. as a shareholder, plans to invest $50 million in cryptocurrency and mining infrastructure, coinciding with Bitcoin reaching a new all-time high.
Key Points
1. Thumzup Media Corporation announced a $50 million investment in cryptocurrency and mining infrastructure, expanding its crypto-related strategy.
2. The firm currently holds 19.1 Bitcoin, purchased in early January, joining a trend of public companies buying cryptocurrencies to boost share prices.
3. Donald Trump Jr. owns 350,000 shares in Thumzup.
4. Bitcoin reached a record high of over $124,000, with traders anticipating it could surpass $125,000.
5. Thumzup's shares rose 7.62% in after-hours trading following the announcement, despite a slight loss during the regular trading day.
6. Sweden's H100 Group increased its Bitcoin holdings to 809.1 BTC, ranking 42nd globally among publicly-traded firms.
Description
Thumzup, a social marketing firm boasting Donald Trump Jr. as a shareholder, will spend $50 million to buy crypto and mining rigs.
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