Trump Jr Invests Millions in Bitcoin Treasury Company

Thumzup began accumulating BTC in late 2024 and now holds over $2.1 million worth. This trend mirrors the overall corporate shift towards Bitcoin reserves, which was popularized by Michael Saylor’s Strategy. Meanwhile, Binance co-founder Changpeng Zhao is backing a new venture—BNB Treasury Company—aiming to give institutional investors exposure to BNB via a US-listed vehicle. Remixpoint, a Tokyo-based fintech and energy firm, is also making headlines after raising $215 million to triple its Bitcoin holdings to 3,000 BTC, with its CEO now also taking his salary in Bitcoin. 

Trump Jr Buys Into BTC Focused Media Company

Donald Trump Jr., the eldest son of US President Donald Trump, revealed an investment in Thumzup Media Corp, a social media marketing firm that adopted a Bitcoin-centric treasury strategy. According to Bloomberg, Trump Jr. owns 350,000 shares of the company, which is currently worth nearly $3.3 million based on a trading price of about $9.50 per share.

Thumzup Media Corp share price over the past 24 hours (Source: Google Finance)

Thumzup’s embrace of Bitcoin began in November of 2024 when its board authorized the purchase of up to $1 million in BTC as part of its corporate treasury. CEO Robert Steele explained that the move was driven by the rise of Bitcoin ETFs and increased institutional support. Bitcoin's scarcity and inflation-resistant properties were also valuable traits that were considered for safeguarding company capital. 

Thumzup’s BTC holdings over time (Source: BitcoinTreasuries.NET)

To expand its position even more, Thumzup filed a universal shelf registration with the US Securities and Exchange Commission (SEC) in May, to raise $200 million through debt and equity financing. As of now, the company holds 19.11 BTC, currently valued at over $2.1 million.

The trend of companies like Thumzup adopting Bitcoin as a reserve asset led to a wider discussion on the long-term viability of this strategy. Since 2024, there has been a surge in firms adding Bitcoin to their treasuries, with 258 institutions now listed on BitcoinTreasuries, ranging from public and private companies to crypto-native custodians and even government-linked entities. The movement was originally popularized by Michael Saylor, the co-founder of Strategy, who pivoted his business intelligence firm into a Bitcoin-focused treasury company back in 2020.

Despite the growing list of adopters, some analysts are still skeptical about the sustainability of the trend. Critics argue that many of these newer entrants lack the strong conviction that is necessary to endure the extreme volatility of the crypto market. Bitcoin maximalist Max Keiser explained that Saylor and his company have already proven their resilience through multiple market downturns, unlike the recent wave of companies whose conviction has yet to be tested. 

A June report from venture capital firm Breed shared very similar concerns, and warned that most Bitcoin treasury companies could fail during the next bearish cycle. This could trigger a potential cascade of selloffs that may deepen any future downturn.

CZ Backs New BNB Treasury Firm

Binance co-founder Changpeng Zhao’s family office is also backing a new investment venture that aims to give institutional and retail investors exposure to BNB through a publicly listed company in the United States. YZi Labs announced that it will support 10X Capital in launching the “BNB Treasury Company,” which plans to list on a major US exchange. The new firm will be led by David Namdar, a senior partner at 10X Capital and co-founder of Galaxy Digital, and 10X Capital will act as the company’s asset manager.

This initiative is also part of the trend among firms aiming to create public vehicles for cryptocurrency exposure. BNB is the native token of the Binance ecosystem, and was originally created to provide trading discounts. It now powers applications across the BNB Chain, a blockchain that was launched by Binance in 2019. Ella Zhang, head of YZi Labs, stated that expanding institutional access to BNB could provide many meaningful benefits to the broader public.

10X Capital founder Hans Thomas stated that although BNB is one of the largest and most active ecosystems globally, US investors have had limited access to its growth. The BNB Treasury Company expects to announce the closure of its financing round in the coming weeks.

Exchange-tied tokens like BNB serve as both user incentives and funding mechanisms for crypto platforms. While Binance created BNB and its blockchain, the company claims not to be directly involved in their ongoing development. However, Zhao revealed in February that nearly all of his crypto holdings—98.5%—are in BNB. According to Forbes, Zhao controls approximately 94 million BNB tokens, which equates to over 64% of its circulating supply. Binance controls an additional 31.5%. Combined, Zhao and Binance reportedly control close to 96% of all circulating BNB, currently worth around $63 billion.

Despite being barred from managing Binance as part of a money laundering settlement with US authorities, Zhao is still the company’s largest shareholder. On Wednesday, he posted on X that more than 30 teams are interested in launching similar BNB-focused public treasury firms.

While Bitcoin is the primary focus of most corporate crypto treasuries, BNB is beginning to attract institutional attention. Nasdaq-listed Nano Labs recently announced plans to purchase up to $1 billion worth of BNB, having already acquired $50 million.

Remixpoint Plans to Triple Bitcoin Holdings

Meanwhile, Tokyo-based energy and fintech firm Remixpoint announced that it raised 31.5 billion yen, or approximately $215 million, to expand its Bitcoin treasury reserves. The company revealed on X that the entire sum will be used for purchasing Bitcoin, which will help in its aggressive push into digital asset accumulation. The capital was secured through its 25th series of stock acquisition rights and the fourth series of unsecured bonds, which will result in the issuance of 55 million new shares—equivalent to a 39.9% dilution. The shares will be issued at market price without any discount.

Remixpoint announcement on X

Remixpoint stated that it plans to grow its Bitcoin holdings to 3,000 BTC in the short term. The company currently holds 1,051 BTC, worth over $113.8 million, placing it as the 30th largest Bitcoin-holding corporation according to BitcoinTreasuries.NET. This move happened on the heels of an announcement that CEO Takashi Tashiro will begin receiving his salary in Bitcoin to align his interests with shareholders and reflect the firm’s deepening belief in Bitcoin’s future potential.

The board unanimously approved the strategic allocation, due to Bitcoin’s potential to enhance corporate value while balancing risk and flexibility. The company stressed that this decision was only made after very rigorous internal debate and is aimed at seizing long-term opportunity rather than taking reckless risks. 

Other Japanese companies are also ramping up their crypto holdings. Metaplanet recently purchased an additional 2,204 BTC for $237 million and is reportedly exploring the acquisition of a digital bank.