Donald Trump's Sons Made Another Move in Bitcoin and Cryptocurrency: They Are Not Backing Down!

Donald Trump Jr., the son of U.S. President Donald Trump, bought millions of dollars worth of shares from a social media company that accumulates Bitcoin. This move is the latest example of the Trump family's recent shift towards crypto reserve strategies.

Los Angeles-based Thumzup Media Corp. announced today in an official statement that Trump Jr. owns 350,000 shares in the company. The total value of these shares, based on yesterday's closing price of $12.36, is over $4 million.

It was stated that this investment by Trump Jr. was made at the suggestion of his personal investment advisor and that he has no other connection with the company. The investment was announced immediately after the $6 million private equity sale conducted through Dominari Securities last week. Trump Jr. and his brother Eric Trump serve as consultants at Dominari's parent company.

Thumzup is developing an application that allows users to make money by recommending products on Instagram.

Thumzup had announced that it would keep a large portion of its liquid assets in Bitcoin in January. It currently holds over 2 million dollars in Bitcoin. In a new announcement made today, the company stated that it will expand this strategy with the revenue obtained from the private sale and will accumulate six different cryptocurrencies.