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Fold sells $45 million worth of Bitcoin to repay collateral loans, and the stock price soars 160%

MarsBitNews
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Mars Finance News, according to The Block, Fold Holdings disclosed that it sold approximately $45 million worth of Bitcoin at an average price of $71k, using $20 million of the proceeds to fully repay Bitcoin collateralized loans, with the remaining $25 million used for business expansion. Based on the transaction price, this sale involved approximately 634 BTC, and Bitcoin Treasuries data shows it still holds about 826 BTC on its books (not updated to reflect this transaction). Fold stated that this move, in the context of Bitcoin's price falling about 14% from the high of $71k, aims to reduce financing risks, improve cash flow, and focus on supporting growth in its Bitcoin Credit Card and other consumer and enterprise platforms. After the announcement, Fold's stock price on NASDAQ, FLD, rose by about 160%.
BTC0.33%
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