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Fold Sells $45 Million in Bitcoin to Repay Debt and Fund Expansion
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
Fold, a Nasdaq-listed Bitcoin financial services firm, sold approximately $45 million worth of Bitcoin at an average price of $71,000 as part of a broader capital restructuring plan. The company used about $20 million of the proceeds to repay Bitcoin-backed secured debt, with the remaining $25 million allocated to business growth initiatives. The move matters because it eliminates Fold’s secured debt obligations, strengthens liquidity, and improves cash flow flexibility. Next, Fold plans to continue expanding its business while maintaining a meaningful Bitcoin reserve and adjusting its asset allocation strategy to support future growth.
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