Shares of Thumzup Media Corp. (NASDAQ:TZUP) are trading higher in Wednesday's after-hours trading after the company expanded its cryptocurrency treasury beyond Bitcoin (CRYPTO: BTC).
What happened: The firm's board permitted the accumulation of other coins, specifically Dogecoin (CRYPTO: DOGE), Litecoin (CRYPTO: LTC), Solana (CRYPTO: SOL), Ripple (CRYPTO: XRP), Ethereum (CRYPTO: ETH) and USDC (CRYPTO: USDC).
The latest initiative expands on Thumzup’s existing Bitcoin acquisition strategy, which allows it to have up to 90% of its liquid assets in the apex cryptocurrency.
According to Bitcoin Treasuries, the company holds 19 BTC as of this writing, worth $2 million at prevailing prices.
See Also: Bitcoin Hits Historic High Above $112,000, Noted Investor Says ‘If You Can’t Beat It, You Have To Buy It’
Thumzup also disclosed in an SEC filing that Donald Trump Jr., the co-founder of cryptocurrency firm World Liberty Financial, holds 350,000 shares of the company, worth $3.71 million.
Price Action: Shares of Thumzup were up 13.7% in after-hours trading after closing 24.6% lower at $9.320 during Wednesday's regular trading session, according to data from Benzinga Pro. Year-to-date, the stock has soared over 176%.
The TZUP stock demonstrated a very high momentum score—a measure of the stock’s relative strength based on its price movement patterns and volatility over multiple timeframes—as of this writing. Visit Benzinga Edge Stock Rankings to see how it compares against the world’s largest Bitcoin treasury company, Strategy Inc. (NASDAQ:MSTR).
Photo Courtesy: Svet foto on Shutterstock.com
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