Listed company Thumzup plans to raise $500 million to purchase Bitcoin and has submitted a capital increase application to the SEC

According to Foresight News, NASDAQ listed Thumzup Media Corp has submitted a capital increase registration statement to the US Securities and Exchange Commission, raising the maximum total issuance amount of securities from $200 million to $500 million to purchase more Bitcoin. The company's board of directors has previously authorized Thumzup to allocate up to 90% of its current assets to BTC as part of its funding strategy. As of May 5, 2025, Thumzup holds 19.106 BTC with a market value of approximately $1.8 million.