Small-cap companies like Thumzup Media, Solidion Technology, and Genius Group are adopting Bitcoin as part of their treasury strategies.
Thumzup Media's Bitcoin Bet
On November 15, 2024, Thumzup Media Corporation, a Los Angeles-based social media marketing firm, announced its board approved a Bitcoin purchase of up to $1 million for 11.1 BTC. CEO Robert Steele noted that BTC's finite supply and inflation resistance make it a reliable reserve tool. Following the announcement, Thumzup’s stock rose 4% to $3.97 per share, with a total market cap of $36 million.
Solidion Technology's Strategy
U.S.-based battery technology company Solidion Technology allocates 60% of its excess reserves to Bitcoin. The firm plans to convert interest from money market accounts into BTC and use part of future fundraising for long-term BTC holdings. CFO Vlad Prantsevich highlighted Bitcoin as a reserve asset potential for corporations and sovereign nations.
Genius Group's Initiative
Genius Group, an AI-driven education company, has launched a BTC initiative, committing $120 million of its reserves to Bitcoin. The plan extends beyond treasury management, leveraging Bitcoin for educational offerings and global payment systems.
The moves by Thumzup Media, Solidion Technology, and Genius Group highlight a global trend of embracing Bitcoin as a foundational financial asset amid increasing institutional interest.
