Trump Jr. Bets Big on Bitcoin-Backing Social Media App – Is This the Next Crypto Power Play?
Donald Trump Jr. just threw his weight behind a cash-guzzling social media platform with a twist—it's hoarding Bitcoin like digital gold. The move sparks questions: visionary bet or another vanity project burning VC money?
Why this matters: The app's Bitcoin reserve strategy mirrors MicroStrategy's playbook—but with the volatility of social media engagement metrics. One thing's certain: when Trumps and crypto collide, markets pay attention.
The cynical take: Nothing boosts user growth like a celebrity endorsement...until the hype cycle ends and the 'Bitcoin Treasury' becomes a liquidation fire sale. Welcome to Web3, where influencer economics meets Austrian monetary theory.
Image Source: Thumzup Media SEC filing
Thumzup Leans Into Crypto, Trump’s Family Doubles Down
Thumzup offers an app that pays users for product recommendations on Instagram. It recorded a $2.2m loss on just $151 in revenue in Q1. Still, its stock soared almost 75% over the prior four sessions before tumbling 17% by mid‑Wednesday.
In January, Thumzup made a notable pivot by announcing it would hold most of its liquid assets in Bitcoin. Since then, it has accumulated over $2m worth of the crypto asset. Now, the company plans to diversify further by adding six more coins, using funds raised in its latest round.
The purchase deepens the Trump family’s involvement in crypto treasury strategies. Trump-linked entities have embraced bitcoin hoarding across ventures, ranging from Dominari’s ETF investments, Metaplanet advisory board roles, to Trump Media & Technology Group’s $2.3b Bitcoin deployment.
Trump Bets Big on Crypto, Raising Eyebrows Over Conflicts and Controversy
Donald Trump has shifted from crypto skeptic to advocate, promoting policies to make the US the “crypto capital of the world.”
His investments, including World Liberty Financial, the $TRUMP and $MELANIA meme coins and NFT deals, have reportedly generated nearly $1b in revenue.
These intertwined ventures have drawn scrutiny over potential conflicts, insider governance, and ties to controversial investors. Yet they continue to benefit from a rising regulatory tide and the Trump administration’s pro‑crypto posture.
