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- Debashree Patra
Debashree Patra
- Reviewed by:
Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Aug 14, 2025 07:12 UTC
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Thumzup Media Loads Up on Bitcoin, XRP in $50M Crypto Push
Thumzup Media raises $50M to expand crypto mining and holdings, aiming for $250M portfolio with Bitcoin, Ethereum, Solana, XRP, and more.
Move aligns with growing corporate trend of building large crypto treasuries as Bitcoin tops $124K amid bullish market sentiment.
Bitcoin has just hit a new record above $124,000, boosted by hopes of U.S. interest rate cuts, friendlier crypto rules, and rising demand from big investors. The market’s Fear & Greed Index is now at 75, showing strong “Greed”, a sign that traders are feeling bold. In the past week alone, Bitcoin has jumped nearly 7%, and altcoins are also getting a lift as confidence spreads across the market.
This upbeat mood is setting the stage for some bold corporate moves, and one of the latest comes from Thumzup Media, a Nasdaq-listed company with strong political ties. The firm just announced a $50 million fundraising to grow its crypto holdings and mining operations.
Deep Crypto Playbook
Thumzup raised the money through a secondary public share offering at $10 per share. The funds will go into buying new mining equipment and building a bigger digital asset portfolio. Their plan is aggressive, holding up to 90% of their liquid assets in cryptocurrencies.
According to CEO Robert Steele, the plan is to build “durable, revenue-generating assets” while positioning the company as a leader in both mining and treasury management.
Notably, the portfolio will include Bitcoin, Ethereum, Solana, Litecoin, Dogecoin, and now XRP, with a long-term goal of hitting $250 million in total holdings. They also plan to keep some stablecoins like USDC for balance. This move marks a shift for Thumzup from being mainly an ad-tech company to also becoming a serious player in crypto mining and treasury management.
Coinbase Prime as a Key Partner
To handle these growing crypto reserves, Thumzup is sticking with Coinbase Prime as its main custodian and broker. CEO Robert Steele called Coinbase a “cornerstone” of their strategy, praising its strong security and ability to handle big transactions.
The two companies have worked together before. In May 2025, Thumzup set up a Bitcoin-backed credit line with Coinbase Prime, giving them access to funds without selling their crypto, a useful tool for staying invested while still having liquidity.
Trump Jr. Cashes Out in Secondary Offering
Meanwhile, Donald Trump Jr.’s decided to sell a significant portion of his stake. Before the offering closed this week, he held roughly 350,000 shares, making him one of the largest selling shareholders. The sale, part of a broader $50 million raise that netted $46.5 million after fees, also included venture firms and private investors. While Trump Jr.’s entry point into Thumzup isn’t public, his move reflects a wider trend of investors reallocating capital in the fast-moving digital asset space.
A Bigger Trend in Corporate Crypto
Thumzup’s big bet is part of a wider wave of companies diving into digital assets. Just recently, Vivopower teamed up with Crypto.com for custody services, while Japan’s Metaplanet Inc. saw a 468% gain on its Bitcoin stash, now worth $2.1 billion. Trump-linked ALT5 Sigma also raised $1.5 billion for its crypto treasury.
With Bitcoin breaking records and corporate demand climbing, the race to build massive crypto treasuries is heating up, and XRP is getting a surprising boost along the way.
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FAQs
Bitcoin surged past $124K due to expected U.S. rate cuts, pro-crypto regulations, and institutional demand, with market greed index hitting 75 (extreme greed).
Nasdaq-listed Thumzup raised $50M to invest 90% in crypto (BTC, ETH, SOL, XRP) and expand mining operations, targeting $250M in holdings.
Yes, Trump Jr. sold part of his 350K shares in Thumzup’s $46.5M secondary offering, reflecting investor repositioning during Bitcoin’s rally.
Companies like Thumzup, Metaplanet (+468% on BTC), and ALT5 Sigma ($1.5B raise) are aggressively building crypto treasuries amid Bitcoin’s record surge.
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