Key Takeaways
- Fold Holdings secured a $250 million equity facility for Bitcoin acquisition.
- The company currently holds about 1,488 BTC, valued at $157.23 million.
- Fold went public in 2024 and models its Bitcoin strategy after firms like MicroStrategy.
Fold Holdings, the company behind the Fold Bitcoin wallet and app, announced it has secured a $250 million equity purchase facility to expand its Bitcoin treasury.
The arrangement allows Fold to issue and sell up to $250 million in new shares, with the timing and amount of any drawdown under the company’s control, according to Tuesday’s filing with the U.S. Securities and Exchange Commission.
Fold currently holds approximately 1,488 BTC, valued at about $157.23 million, making it one of the larger public companies with a significant Bitcoin treasury.
The company has previously entered into a convertible note agreement to purchase an additional 475 BTC and noted that no new Bitcoin purchases had occurred as of the filing date:
“The Company is not required to use the Facility and controls the timing and amount of any drawdown.”
Financial services
Fold, which launched in 2019, has expanded from a bitcoin wallet to broader financial services, including the Fold Card—a debit card offering bitcoin cashback rewards—and a treasury strategy modeled after firms like MicroStrategy and 21 Capital.
Its public listing took place in 2024 via a SPAC merger, at a pre-money valuation of $365 million and initial holdings of roughly 1,000 BTC.
Shares of Fold Holdings (FLD) traded at $4.71 on Tuesday, a slight increase from its market open.
The company continues to leverage private placements to increase its exposure to bitcoin price movements.
