Fold Shares Jump 162% After Bitcoin Fintech Sells $45 Million in BTC, Wipes Out Debt
Fold Holdings said it eliminated all secured debt and added $25 million in capital by selling part of its Bitcoin treasury. It sold about $45 million in BTC at an average price near $71,000, used $20 million to repay Bitcoin-collateralized debt, and kept the remaining $25 million for growth. The company is now debt-free on secured obligations and no longer has monthly interest payments, which should improve cash flow. The market reacted strongly: FLD shares briefly jumped 162% to $1.60 and were still up more than 80% on the day, though the stock remains down sharply over the past year and since January. Management said the cleaner balance sheet reduces financing risk and supports upcoming product launches, including a Bitcoin rewards credit card, gift cards, and employer crypto bonus services. Fold’s most recent quarterly revenue was $5.6 million, down 21% year over year.
