Fold Holdings sold roughly $45 million worth of Bitcoin this week at an average price of about $71,000 per coin, using part of the cash to retire its bitcoin-collateralized debt and channeling the rest into expansion. The company's stock briefly surged more than 130% in early trading to $1.50 before sliding back under $1 — still up about 30% on the day.
Debt-free on the secured side
Fold used $20 million of the proceeds to pay off its bitcoin-collateralized loans, leaving the company with no secured debt tied to its crypto holdings. That move also released 521 Bitcoin that had been locked up as collateral. The company separately repaid roughly $66.3 million in convertible notes originally issued in March 2025, when it added 475 BTC to its treasury.
What's left in the treasury
After the sale, Fold still holds around 1,492 Bitcoin, worth about $95 million at current prices. The company's fiscal 2025 revenue hit $31.8 million — a 34% increase year-over-year — driven by nearly $960 million in transaction volume. Since launching in 2019, Fold has processed over $2 billion in total transactions and distributed more than $45 million in Bitcoin rewards.
The stock pop that faded
Investors initially cheered the news, pushing shares to $1.50. But the gains didn't hold. By midday the stock had fallen back below $1, a reminder that even strong treasury moves don't always keep the momentum going in a choppy market.
Growth spending and what's next
The remaining $25 million from the sale is earmarked for growth initiatives across consumer and enterprise platforms. Fold also has a $45 million revolving credit facility backed by Bitcoin collateral and a $250 million equity purchase facility it can tap for future Bitcoin accumulation. With secured debt now cleared and a fresh pile of cash, the company is positioned to go after more market share — but the next quarter's numbers will show whether that spending pays off.
