Fold buys 475 Bitcoin, enters top 10 of US companies holding BTC

Fold Holdings has added 475 Bitcoin to its corporate treasury, increasing its total holdings to over 1,485 BTC. 

The acquisition, made through a convertible note issuance with a conversion price of $12.50 per share — more than double FLD’s March 5 closing price — places Fold among the top 10 U.S. public companies with the largest Bitcoin ( BTC ) treasuries.

This means that Fold’s Bitcoin holdings are currently worth over $135 million. 

Powering the ‘next generation’ of financial services

The company’s flagship product, the Fold app, allows users to earn Bitcoin rewards on everyday purchases through its debit and credit card offerings. 

This approach has resonated with consumers looking to accumulate Bitcoin as part of their regular spending habits.

“As the first publicly traded bitcoin financial services company, we believe maintaining a significant bitcoin treasury not only drives value for our shareholders but also strengthens our ability to power the next generation of financial services built on bitcoin,” said Fold CEO Will Reeves.

Fold officially went public on the Nasdaq under the ticker “FLD” in February, increasing its visibility and allowing investors to engage with its bitcoin-focused vision. Nasdaq plans to introduce 24/5 trading, allowing investors to trade stocks continuously from Sunday evening to Friday night.

At the time of writing, Fold’s stock is trading at $8.18 per share.