Company That Recently Announced It Would Purchase $200 Million Worth of Bitcoin Has Changed Its Mind: Now Plans to Purchase $500 Million Worth of BTC

Thumzup Media Corporation has increased its maximum issuance amount from $200 million to $500 million in its updated Form S-3 registration statement filed with the U.S. Securities and Exchange Commission (SEC). According to the company’s statement, the net proceeds will be used for general corporate purposes, working capital, and specifically Bitcoin (BTC) purchases. In this regard, Thumzup continues to adopt BTC as its primary treasury reserve asset. Once the registration statement becomes effective, Thumzup will be able to raise up to $500 million in total through various capital raising methods over three years. The securities that can be issued during this period include common stock, preferred stock, notes, warrants and purchase agreements. Thumzup’s Board of Directors previously authorized the company to allocate up to 90% of its liquid assets to BTC. This strategy makes digital asset investments a core part of the company’s long-term growth plans. The company said it does not currently plan to sell any securities, but will file a separate prospectus with the SEC for each potential future issuance. *This is not investment advice. Source: https://en.bitcoinsistemi.com/company-that-recently-announced-it-would-purchase-200-million-worth-of-bitcoin-has-changed-its-mind-now-plans-to-purchase-500-million-worth-of-btc/