Thumzup Media Bets Big on Crypto: $10M Buyback & Growing Bitcoin, Dogecoin Holdings
Digital advertising firm Thumzup Media announces a substantial share buyback program and continues to expand its cryptocurrency treasury, signaling a deeper dive into the Web3 space.
Thumzup Media (Nasdaq: TZUP), a digital advertising company increasingly focused on crypto, is making waves with a new $10 million share buyback program and a growing portfolio of Bitcoin and Dogecoin. This move, extending through December 31, 2026, underscores the company's confidence in its long-term strategy and commitment to delivering shareholder value.
Key Takeaways:
- Share Buyback: Thumzup Media initiates a $10 million share buyback program after successfully completing a previous $1 million repurchase.
- Crypto Treasury: The company currently holds over 19 BTC and 7.5 million DOGE, with board approval to build a crypto treasury up to $250 million.
- Potential Acquisition: Thumzup is pursuing the acquisition of DogeHash Technologies, a Dogecoin mining firm, pending shareholder approval.
- Trump Jr. Connection: Donald Trump Jr. holds a significant stake in the company, adding further interest to Thumzup's Web3 ventures.
Diving Deeper
The announcement follows the completion of a $1 million repurchase plan, during which 212,432 shares were bought back at an average price of $4.71. CEO Robert Steele stated that the $10 million buyback demonstrates faith in the company’s direction.
The market reacted positively, with TZUP shares jumping 5.7% to $4.81, giving the company a market capitalization of approximately $78 million.
Beyond the stock buyback, Thumzup is actively building its crypto treasury. The holdings include 19.106 Bitcoin and around 7.5 million Dogecoin, demonstrating a clear pivot towards blockchain-based financial management.
Thumzup's board has approved a framework allowing for up to $250 million in crypto assets, potentially including Bitcoin, Dogecoin, Litecoin, Solana, XRP, Ethereum, and USD Coin.
The company is also seeking shareholder approval to acquire DogeHash Technologies, which operates 2,500 Dogecoin mining rigs with an additional 1,000 on the way. If finalized, this acquisition would significantly expand Thumzup's crypto mining capabilities.
With the share buyback and growing digital asset reserves, Thumzup is positioning itself at the convergence of advertising and Web3 finance.
Investment Considerations
As always, investors should consider their risk tolerance and investment timeline before making allocation decisions. Bitcoin remains a volatile asset despite increasing institutional adoption.
This article is for informational purposes only and should not be considered investment advice. Always consult with a qualified financial advisor.
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