Following a successful $50 million capital raise through a $10-per-share offering, Thumzup Media Corporation is now set to expand its investment strategy to include large-scale Bitcoin mining and targeted blockchain investments.
Source: thumzupmedia.com
A portion of the raised funds will be allocated towards acquiring advanced mining rigs, with discussions already in progress with technology providers to expedite deployment.
Having purchased its first Bitcoin in January and currently holding 19.1 BTC, Thumzup Media Corporation is now among the increasing number of public companies recognizing the strategic value of cryptocurrencies.
Notably, Donald Trump Jr. holds 350,000 shares in the company.
Bitcoin Continues to Surge
Building on the positive momentum, Bitcoin reached a new all-time high of $123,231 on Coinbase on August 13th.
This milestone coincided with a record-breaking performance of the S&P 500, fueled by lower-than-expected inflation figures that boosted optimism in risk markets.
July’s Consumer Price Index remained stable at 2.7% year-over-year, below predictions, while monthly price growth decelerated, strengthening expectations of a rate cut in September.
The CME FedWatch tool now indicates a nearly 96% probability of a rate cut.
Source: cmegroup.com
The supportive monetary policy and the halt of quantitative tightening have been key factors driving Bitcoin’s upward trajectory.
Furthermore, investors anticipate positive outcomes from President Trump’s economic policies, potentially leading to further gains in the cryptocurrency market.
Trump’s Focus on the Federal Reserve
Alongside Bitcoin’s rally, attention is also drawn to the Federal Reserve as President Trump intensifies his criticism of Chairman Jerome Powell.
Trump has publicly denounced Powell’s decisions, labeling them as detrimental and calling for a change in leadership.
Simultaneously, the administration is evaluating potential candidates to succeed Powell when his term concludes in May.
Source: Truth Social
Among the contenders are David Zervos, Larry Lindsey, and Rick Rieder, alongside other experienced individuals in the field of monetary policy.
The selection process is described as thorough, with Treasury Secretary Scott Bessent scheduled to conduct interviews before presenting a narrowed-down list of candidates to President Trump.