Summary
- Thumzup announced that it has completed a $6.5 million fundraise.
- It stated that the raised funds will be used for working capital and the acquisition of virtual assets (including Bitcoin).
- Thumzup's board of directors approved a proposal to allocate up to 90% of total liquid assets to Bitcoin.
Thumzup, a Nasdaq-listed social media marketing company, has raised $6.5 million in funding.
According to Investing.com on the 1st (local time), Thumzup announced that it has entered into a definitive agreement for a direct offering of common stock worth $6.5 million. The raised funds will be used for working capital and for the purchase of virtual assets (cryptocurrencies).
Furthermore, Thumzup plans to secure up to an additional $200 million for purposes including the acquisition of Bitcoin (BTC).
Previously, Thumzup's board approved a proposal to allocate up to 90% of all liquid assets to Bitcoin. Thumzup currently holds Bitcoin worth $1.8 million.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
