Thumzup Media Corporation approves $1 million Bitcoin as treasury reserves

Small-cap companies like Thumzup Media, Solidion Technology, and Genius Group are adopting Bitcoin as part of their treasury strategies, with market capitalizations under $50 million, these firms are adopting Bitcoin as a tool to reserve.

Thumzup Media bets on Bitcoin

On November 15, 2024, Thumzup Media Corporation, a Los Angeles-based social media marketing firm, announced that its board of directors had approved a Bitcoin purchase of up to $1 million for 11.1 BTC.

CEO Robert Steele stressed that BTC’s finite supply and resistance to inflation make it a reliable addition to the company’s reserves. He noted the acceptance by increasing the investment and the launch of BTC(ETFs). Following the announcement, Thumzup’s stock saw a 4% increase, reaching $3.97 per share, with a total market capitalization of $36 million.

Solidion Technology, a U.S.-based battery technology company has been allocating 60% of its excess cash reserves to Bitcoin. The firm plans to convert interest from money market accounts into BTC and use a portion of future fundraising for long-term BTC holdings.

CFO Vlad Prantsevich highlighted the potential of BTC as a reserve asset, by corporations and sovereign nations. “We’ve made our first purchase and are excited to continue stacking Bitcoin in line with our policy parameters,” he stated.

Genius Group’s Bitcoin initiative

Genius Group, an AI-driven education company, has launched BTC’s first initiative, committing $120 million of its reserves to the cryptocurrency. The plan extends beyond treasury management and to leverage Bitcoin for the company’s educational offerings and global payment systems.

CEO Roger Hamilton said, Bitcoin’s role in shaping decentralized economies. “We believe a new type of future-focused, AI-driven, blockchain-based public listed company can bridge the divide between traditional finance and the future promise of decentralized economies,” he stated. The initiative positions Genius Group as a leader in integrating blockchain technology into its core business strategy.

These moves by Thumzup Media, Solidion Technology, and Genius Group reflect a broader trend of smaller firms embracing Bitcoin as a key financial asset.

The approval of Bitcoin ETFs and rising institutional interest have made cryptocurrency a viable option for diversifying reserves and protecting against economic uncertainties. By leveraging Bitcoin’s unique qualities as a scarce, inflation-resistant asset, these firms creating a global shift toward digital assets.