Donald Trump Jr. has invested $4 million in Thumzup Media, which is actively developing its cryptocurrency assets.
Donald Trump Jr.'s Investment
Donald Trump Jr. has recently acquired 350,000 shares in the startup Thumzup Media, valued at approximately $4 million. The company holds $2 million in Bitcoin and plans to add six other cryptocurrencies as part of the Trump family’s crypto treasury strategy. Trump Jr. bought these shares on his advisor’s recommendation and has no other role in the company.
Thumzup's Crypto Expansion Plans
Recently, Thumzup Media announced its plan to expand its crypto holdings by acquiring cryptocurrencies such as Dogecoin, Litecoin, Solana, XRP, Ethereum, and USDC. In November 2024, Thumzup’s board approved using Bitcoin as a treasury asset, allowing for purchases of up to $1 million in BTC.
Market Reaction and Analysts' Concerns
Despite the active involvement in the crypto sphere, Thumzup's stock dropped by 14% on Wednesday in response to its increased crypto exposure. Some analysts have expressed concerns about the sustainability of companies holding Bitcoin as a treasury asset, questioning whether this trend is a long-term strategy or a temporary phase that could trigger a significant market downturn.
Donald Trump Jr.'s investment in Thumzup Media highlights the growing involvement of the Trump family in the world of cryptocurrencies. Meanwhile, the company's increasing crypto exposure raises questions about its future in the market.
