Nasdaq-Listed Fold Sells $45M Bitcoin at $71K, Eliminates $20M Debt, Frees $25M for Expansion

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Nasdaq-listed bitcoin financial services company Fold sold approximately $45 million of bitcoin at an average price of $71,000 per coin yesterday (June 10), according to an official statement. The company used proceeds to repay $20 million in bitcoin-collateralized debt, completely erasing its secured debt obligations. The remaining $25 million in unrestricted cash has been allocated toward scaling the Fold Bitcoin Credit Card and other growth initiatives. CEO Will Reeves stated the financial restructuring improves liquidity and provides the flexibility needed to execute the company's product roadmap, including recent launches of its credit card, bitcoin gift card, and Fold Business platform.
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