A Company That Recently Announced It Would Purchase 200 Million Dollar Worth of Bitcoin Has Backed Out: It Now Plans to Buy 500 Million Dollar Worth of BTC!

Thumzup Media Corporation, with its updated Form S-3 registration statement filed with the SEC, increased the maximum issuance amount from 200 million dollars to 500 million dollars.

According to the company's announcement, the net income to be obtained will be used for general corporate purposes, working capital, and especially for Bitcoin (BTC) purchases. In this regard, Thumzup continues to adopt BTC as its primary treasury reserve asset.

With the entry into force of the registration declaration, Thumzup will be able to raise up to 500 million dollars over three years through various capital increase methods. The securities that can be issued during this process include various instruments such as common stocks, preferred shares, bonds, collateral, and purchase agreements.

The Thumzup Board of Directors had previously authorized the allocation of up to 90% of the company's liquid assets to BTC. This strategy makes digital asset investments a fundamental part of the company's long-term growth plans.

The company stated that there are currently no plans to sell any securities, but that a separate prospectus will be submitted to the SEC for each potential issuance that may occur in the future.