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.
