As Bitcoin reaches new heights, a firm tied to Donald Trump Jr. is making significant moves in the crypto space. Thumzup Media Corporation, a company that transitioned from social media marketing to cryptocurrency investments, has successfully raised $50 million from investors. This capital injection will fuel an expansion of their crypto strategy, including large-scale cryptocurrency mining and targeted blockchain investments.
Thumzup plans to allocate a portion of the newly acquired funds to establish "state-of-the-art cryptocurrency mining infrastructure". The company is currently in talks with mining technology providers to expedite the construction of this infrastructure. This move signals a shift from passively holding digital assets to actively participating in their production through mining.
The company already holds 19.1 Bitcoin, acquired earlier this year. With the new funding, Thumzup's board has approved plans to invest in a diverse range of cryptocurrencies, including Dogecoin, Litecoin, Solana, XRP, Ether, and USDC, with a total crypto investment limit of $250 million.
Donald Trump Jr.'s involvement adds another layer of intrigue. According to regulatory filings from July, he purchased 350,000 shares of Thumzup, then valued at approximately $3.3 million, solidifying the Trump family's growing interest in the crypto industry. Trump Jr. was also one of the largest selling shareholders in the secondary stock offering.
This strategic shift comes at a time when Bitcoin is experiencing a resurgence. Bitcoin's price broke past its previous ceiling on August 13, 2025, hitting a record of $124,025 per coin between 7 p.m. to 8:15 p.m. Eastern time. On Bitstamp, BTC reached $124,025, surpassing the previous peak of $123,236 set 30 days prior on July 14, 2025. The cryptocurrency now boasts a $2.458 trillion market capitalization and has logged $58.71 billion in global trading volume over the past 24 hours. This peak aligns with market optimism, as evidenced by the S&P 500 index closing at its own record high for two consecutive sessions.
Several factors have contributed to Bitcoin's rise, including expectations of potential Federal Reserve rate cuts, increased corporate buying, and institutional participation through Bitcoin ETFs.
Thumzup's move to expand into crypto mining and diversify its holdings reflects a broader trend among public firms seeking multiple revenue streams within the blockchain economy. By combining direct mining operations with strategic token purchases, Thumzup aims to create a resilient digital asset portfolio. The company raised $50 million through a secondary stock offering following a shelf registration approved by the SEC. Several venture firms and private investors participated in the sale, alongside Trump Jr. as the largest individual seller.
The cryptocurrency’s growth is attributed to a favorable legislative environment, increased corporate adoption, institutional participation through Bitcoin ETFs, and macroeconomic factors such as expectations of potential Federal Reserve rate cuts.
Bitcoin's journey has been marked by volatility. From a price of zero in 2009, it has experienced periods of rapid growth and significant downturns. In 2017, Bitcoin's price skyrocketed to close at $19,188 on December 31. In 2021, it surpassed $40,000 by January 7. As of August 14, 2025, Bitcoin is trading at $124,016 per coin and commands 58.8% of the $4.16 trillion total crypto market capitalization.
The market indicators are leaning bullish, with the relative strength index (RSI), momentum, and moving average convergence divergence (MACD) all signaling strength. Moving averages (MAs) are also tracking firmly in positive territory.
