Thumzup, a company associated with Trump, spent 2 million dollars to buy 7.5 million DOGE, expanding their encryption asset portfolio.

Thumzup Media Corporation (stock code: TZUP) announced on Thursday its first major acquisition of DOGE in the public market, purchasing approximately 7.5 million Tokens at a weighted average price of $0.2665, with a total value of about $2 million. This company, linked to Donald Trump, is actively expanding its encryption asset portfolio and plans to deploy 3,500 DOGE Mining devices by the end of the year, sparking significant market attention.

Thumzup Encryption Asset Strategy Comprehensive Upgrade

Thumzup Media entered the encryption field for the first time in January this year, investing 1 million dollars in Bitcoin at that time. This large-scale acquisition of DOGE marks an important step in the company's strategy for diversifying its encryption assets.

Earlier this month, Thumzup announced plans to deploy 3,500 DOGE mining machines by the end of the year through the upcoming acquisition of the mining company Dogehash, indicating that the company is not only focused on cryptocurrency investment but also actively laying out mining infrastructure.

encryption advisory team enhancement

To support its encryption business expansion, Thumzup appointed two heavyweight figures from the DOGE ecosystem to its cryptocurrency advisory board this week:

· DogeOS CEO and MyDoge Head Jordan Jefferson

· DogeOS Ecosystem Head Alex Hoffman

These appointments further strengthen the company's position and expertise in the DOGE ecosystem.

Donald Trump and the association with Thumzup

In July of this year, Thumzup revealed that President Trump's son, Donald Trump Jr., holds 350,000 shares in the company. According to Bloomberg reports, Trump Jr. acquired the shares on the advice of an investment consultant and has no other direct affiliation with the company.

However, this association has sparked greater market interest in Thumzup, especially against the backdrop of the Trump administration's more favorable attitude towards encryption.

Ambitious encryption asset plan

Thumzup's encryption asset expansion plan is astonishing:

In July, the board authorized the company to hold cryptocurrency worth up to 250 million USD.

In August, the company issued common stock valued at 50 million dollars, with an issue price of 10 dollars per share.

In September, a large-scale acquisition of 7.5 million DOGE was made, valued at approximately 2 million US dollars.

These measures indicate that Thumzup is rapidly positioning itself as a significant institutional investor in the field of encryption.

Market Reaction and Price Impact

Thumzup's stock price closed down 7.7% on September 17, at $4.61 per share. However, following the announcement of the DOGE purchase, the stock rose about 4.5% in after-hours trading, indicating that investors have a positive attitude towards the company's encryption strategy.

At the same time, according to price data from The Block, the price of DOGE has risen by 2.4% to $0.28, partly boosted by this large-scale institutional acquisition.

Diversification Trend of Encryption Assets

Thumzup's actions reflect a broader trend: an increasing number of publicly traded companies are incorporating cryptocurrency into their balance sheets. Unlike companies such as MicroStrategy that focus on Bitcoin, Thumzup's choice to invest in both Bitcoin and DOGE represents a more diversified cryptocurrency asset allocation strategy.

As more institutional investors enter the DOGE market, this cryptocurrency, once regarded as a “meme coin,” is gradually gaining wider recognition and adoption. Thumzup's large-scale investment may signify a shift in institutional attitudes toward DOGE, providing it with more legitimacy and market confidence.