Gage Skidmore from Surprise, AZ, United States of America
Donald Trump Jr. Invests Millions in Bitcoin-Heavy Startup With Almost No Revenue
Donald Trump Jr. has emerged as a major shareholder in Thumzup Media Corp., a Los Angeles-based social media startup aggressively accumulating Bitcoin despite generating minimal revenue. According to a filing with the SEC, Trump Jr. holds 350,000 shares in the company—a stake valued at over $4 million based on recent stock prices, as reported by Bloomberg on July 9.
Thumzup, which operates an app that rewards users for recommending products on Instagram, reported a net loss of $2.2 million and a mere $151 in revenue in Q1 2025. Despite its financial struggles, the startup is doubling down on digital assets. Since January, it has maintained over $2 million in Bitcoin as part of its treasury strategy and now plans to diversify into six additional cryptocurrencies. The expansion is being financed through a $6 million private placement of convertible preferred stock, structured by Dominari Securities.
Both Donald Trump Jr. and his brother Eric Trump serve as advisors to the investment bank’s holding company.
Thumzup CEO Robert Steele defended the move, stating: “Expanding into other leading cryptocurrencies aligns with our commitment to innovation and prudent treasury management.”
The announcement comes amid increasing regulatory tailwinds for crypto in Washington, including growing acceptance of digital assets and new frameworks for cryptocurrency-backed ETFs.
A source close to Trump Jr. stated the investment was made under financial advice and that he is not involved operationally. The move is seen as a calculated bet to capitalize on Bitcoin's growing legitimacy as a corporate treasury asset. The Trump Media & Technology Group has already raised $2.3 billion with the aim of building a significant Bitcoin reserve.
Meanwhile, Eric Trump has joined the board of Metaplanet, a Japanese conglomerate that has also adopted Bitcoin as a strategic asset. Dominari itself began investing in Bitcoin ETFs earlier this year. All signs point to the Trump family closely watching and strategically engaging with companies embracing cryptocurrencies.
The President Donald Trump has pledged to make the U.S. the "global capital of crypto." According to the Bloomberg Billionaires Index, his $6.5 billion fortune is increasingly tied to the family’s digital ventures, including World Liberty Financial and the Trump Memecoin.
Why This Matters Thumzup’s Bitcoin accumulation strategy reflects a growing trend among corporate treasuries to diversify into crypto assets—a shift gaining momentum in the global business landscape.
Moreover, Trump Jr.'s investment deepens the Trump family's influence in the crypto world beyond media ventures, signaling their role in shaping contemporary financial narratives.
This development also comes at a time when U.S. regulators are signaling a more favorable stance on digital assets, pointing to a political and economic climate increasingly receptive to cryptocurrencies.
Source: Bloomberg
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