Fold Holdings, Inc., the company behind the Bitcoin Rewards Credit Card, has announced a series of transactions to eliminate secured debt and strengthen its balance sheet.
The company monetized approximately $45 million in bitcoin at an average price of around $71,000 per coin, using $20 million to retire bitcoin-collateralized debt and directing the remaining $25 million toward growth initiatives.
This move leaves Fold debt-free on the secured side while preserving a bitcoin treasury of approximately 1,492 BTC, worth roughly $95 million at current prices.