Donald Trump Jr., son of US President Donald Trump, has purchased a multi-million dollar stake in a social media company that accumulates Bitcoin.
The move is the latest example of the Trump family's recent shift toward cryptocurrency holding strategies.
Los Angeles-based Thumzup Media Corp. announced today that Trump Jr. owns 350,000 shares of the company.
These shares are worth over $4 million based on yesterday's closing price of $12.36. Trump Jr. reportedly made the investment based on the recommendation of his personal investment advisor and has no other connection to the company.
The announcement followed last week's $6 million private stock sale through Dominari Securities.
Trump Jr. and his brother, Eric Trump, serve in advisory roles at Dominari's parent company.
Related News: BREAKING: Much Anticipated FED Minutes Have Been Released - Here Are All the Details Thumzup is developing an app that allows users to earn money by recommending products on Instagram.
Thumzup announced in January that it would hold the majority of its liquid assets in Bitcoin.
It currently holds more than $2 million in Bitcoin.
In a new announcement today, the company stated that it will expand this strategy with the proceeds from the private sale and will accumulate six different cryptocurrencies. *This is not investment advice.
Continue Reading: Donald Trump’s Sons Take Bitcoin and Cryptocurrency Step Again: They’re Not Giving Up.
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