Fold Holdings Secures $250 Million Equity Facility to Expand Bitcoin Holdings

Fold Holdings (FLD), the parent company of the Bitcoin wallet Fold, has secured a $250 million stock purchase facility to expand its Bitcoin holdings. The funds will be obtained through the sale of new shares, but the company stated that fund withdrawals are optional and no Bitcoin has been purchased so far. This strategy follows the footsteps of companies like 21 Capital and Nakamoto that use a model similar to MicroStrategy—making their shares a leveraged proxy against Bitcoin prices.

Fold, which plans to go public in 2024 through a SPAC merger with an initial valuation of $365 million, currently holds approximately 1,488 BTC worth over $157 million, up from 1,000 BTC at its IPO. The company also offers other financial services such as the Fold Card, a debit card with Bitcoin rewards. FLD shares rose 0.43% to $4.71 on Tuesday, following the announcement of this new facility.#FoldHoldings $BTC