Fold Holdings, a Phoenix-based fintech company focused on Bitcoin rewards, announced the sale of approximately $45 million in Bitcoin at an average price of ~$71,000 per coin. The proceeds were used to retire all Bitcoin-collateralized secured debt ($20 million), leaving the company debt-free on secured obligations, with the remaining $25 million redirected toward growth initiatives such as expanding its Bitcoin rewards credit card and launching new products. CEO Will Reeves stated the move reduces financing risk and ensures short-term volatility does not impede execution. The share price (FLD) surged over 160% initially, though it remains down ~58% year-to-date and over 78% in the past 12 months. The debt elimination also stops monthly interest payments, improving cash flow despite a 21% revenue decline in Q1 2026 to $5.6 million. This strategic restructuring positions Fold for accelerated growth, particularly its Bitcoin Credit Card, which management sees as a key long-term opportunity. The company recently launched a Bitcoin gift card and a business bonus service.

Key facts

• Sold ~$45M Bitcoin at ~$71,000 average price.
• Used $20M to repay all Bitcoin-collateralized secured debt.
• Freed $25M for growth, including Bitcoin credit card and new products.
• Shares surged 162% initially but down 58% YTD.
• Debt elimination removes monthly interest payments, aiding cash flow.

KeyAudit data perspective