Fold Sells $45 Million in Bitcoin to Repay Collateralized Debt

Fold Holdings sold $45 million worth of bitcoin on Wednesday to repay collateralized debt, according to the company. The sale was executed at an average price of $71,000 per bitcoin, implying a total of approximately 634 BTC. Of the proceeds, $20 million was used to eliminate all bitcoin-collateralized debt, while $25 million was allocated to corporate development, primarily to support its Bitcoin Credit Card expansion.

The transaction removes financing risk from Fold's balance sheet by eliminating monthly interest payments tied to bitcoin collateral. CEO Will Reeves stated the company had acted to ensure that short-term market volatility does not impede its operating roadmap.