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Fold Sells $45 Million in Bitcoin to Clear Collateralized Debt
Fold Holdings sold about $45 million worth of bitcoin to fully repay its collateralized loan and free capital for corporate development, marking a notable balance sheet move by a public company with a bitcoin treasury strategy. The company said it monetized bitcoin at an average price of $71,000 per coin. At that level, the transaction implies Fold sold roughly 634 bitcoin. The proceeds were split between debt reduction and growth funding, with $20 million used to eliminate all of its bitcoin-collateralized debt and $25 million allocated to corporate development. The sale gives Fold more cash flexibility at a time ... (full story)
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