Thumzup Media Corporation, a publicly traded company on Nasdaq under the ticker TZUP, has announced its decision to allocate up to $1 million of its treasury reserves into Bitcoin.

CEO Robert Steele emphasized that Bitcoin’s finite supply and resistance to inflation make it a robust addition to the company’s financial strategy.

The board’s approval reflects a growing trend among corporations to incorporate digital assets into their balance sheets.

Steele highlighted the influence of newly sanctioned Bitcoin ETFs and increasing institutional support as factors enhancing Bitcoin’s role as a reliable asset for preserving value.

Following the announcement, Thumzup’s stock experienced a 4% increase, reaching $3.97 per share, and bringing the company’s market capitalization to approximately $36 million.

This move aligns Thumzup with other firms adopting Bitcoin to diversify reserves and hedge against economic uncertainties.

In addition to its treasury strategy, Thumzup plans to offer Bitcoin payments to its gig economy workforce through its Account Specialist Program.

This initiative reflects the company’s commitment to innovative compensation solutions and acknowledges the growing demand for cryptocurrency payments among gig workers.

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