Fold Holdings (NASDAQ: $FLD), the Bitcoin financial services company behind @fold_app, sold approximately $45 million worth of $BTC on June 10, 2026, using the proceeds to wipe out all of its
Fold Holdings (NASDAQ: $FLD), the Bitcoin financial services company behind @fold_app, sold approximately $45 million worth of $BTC on June 10, 2026, using the proceeds to wipe out all of its secured debt and build a cash war chest for growth. The Bitcoin was sold at an average price of roughly $71,000 per coin, a level that sat around 14% above where $BTC was trading at the time of reporting, suggesting Fold timed or structured the transactions at favorable pricing rather than selling into weakness.
Of the $45 million raised, $20 million went toward repaying bitcoin-collateralized debt, and the remaining $25 million was allocated as unrestricted cash for growth initiatives across the business. By eliminating secured debt entirely, Fold also removed the burden of recurring monthly interest payments, directly improving its cash flow profile. The company's revolving credit facility remains untouched and available for future use.
The move is Fold's second significant deleveraging step in four months. In February, the company extinguished $66.3 million in convertible notes and recovered 521 BTC that had been pledged as collateral. Tuesday's $45 million sale extends that balance-sheet cleanup into mid-year.
The timing is notable given the broader operating backdrop. Fold's Q1 2026 revenue fell 21.1% year-over-year to $5.6 million, with transaction volumes down 32% over the same period. The company posted a net loss of $29.2 million in the quarter, which included a $28.6 million mark-to-market loss on its Bitcoin investment treasury.
CEO Will Reeves framed the sale as a strategic move rather than a retreat from Bitcoin. "We have reduced financing risk, strengthened our balance sheet, and ensured that short-term market volatility cannot stand in the way of executing our roadmap," Reeves said in the company's official statement. He added that Fold is entering "one of the most important growth periods in the company's history" as it approaches several product launches.
A key focus for the freed capital is the Fold Bitcoin Credit Card, a Visa product offering up to 4% back in $BTC on everyday purchases. The card had more than 1,000 units in circulation at the end of Q1 2026, with an approximately 80,000-person waiting list still to be worked through. Management views the credit card as one of Fold's most significant long-term growth opportunities, and the stronger balance sheet is expected to help the company support a larger cardholder base and pursue additional funding relationships for the program.
According to data from Bitcoin Treasuries, Fold still holds approximately 826 BTC following the sale, worth around $51.3 million. The company also retains a $250 million equity purchase facility earmarked for future Bitcoin acquisitions, signalling that management has not abandoned its treasury strategy. Investors responded sharply to the announcement, with $FLD shares jumping sharply on the day.
Sources:Fold Holdings official press release via GlobeNewswireFold Holdings sells $45M in Bitcoin to eliminate debt, Investing.comFold sells $45 million in Bitcoin to wipe out debt, Cryptopolitan
