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In a significant move for corporate treasury management, Thumzup (Nasdaq: TZUP), a U.S.-based social media brand, has revealed via PR Newswire that its board has approved a strategy to allocate 90% of its remaining cash reserves into Bitcoin. This decision aligns with Thumzup’s previously stated initiative from November 15, 2024, to enhance its treasury asset composition through digital currency. Notably, the company made a substantial $1 million purchase of BTC as of January 6, 2025, underscoring its commitment to the growing cryptocurrency market. Thumzup’s strategic pivot towards Bitcoin demonstrates confidence in the digital asset’s potential and reflects broader trends in corporate America, where more companies consider cryptocurrency as a viable asset class for preservation of capital. This proactive approach may set a precedent for others contemplating a similar path.
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