Fold raises an additional 250 million USD to buy Bitcoin amid price correction

The US-based Bitcoin financial services company – Fold – has just announced plans to issue shares worth up to 250 million USD with the primary goal: to buy more Bitcoin for its corporate treasury.

According to the latest statement, #Fold will offer shares to selected institutional investors, rather than trading publicly on the exchange. Most of the raised funds will be used to increase the amount of BTC held, which currently stands at 1,488 BTC, valued at approximately 155 million USD.

This move comes amid a backdrop of Bitcoin prices dropping nearly 5% over the week, down to around 104,500 USD, after previously surpassing 110,000 USD not long before. Fold's stock is currently trading at 4.57 USD, down nearly 60% since the beginning of the year.

Fold is not an isolated case. More than 130 listed companies have added BTC to their balance sheets, a 13% increase in just the past month. This strategy is inspired by Michael Saylor, who has led MicroStrategy to hold 592,100 $BTC , equivalent to 64 billion USD.

However, analysts are beginning to warn about risks. According to Standard Chartered, half of the companies not specialized in crypto could incur losses if the price of Bitcoin falls below 90,000 USD.

Nevertheless, Fold still bets big on BTC – a move that demonstrates strong confidence in the long-term potential of the world's largest digital currency.