Fold Holdings Sells $45M Bitcoin at $71K Average Price to Clear Loan, FLD Surges 160%

BTC3.10%
According to The Block, Fold Holdings on June 10 sold approximately $45 million worth of Bitcoin at an average price of $71,000 per BTC. The company used $20 million of the proceeds to fully repay its Bitcoin-backed loan and allocated the remaining $25 million for business expansion, including growth of its Bitcoin Credit Card platform. Based on the transaction price, Fold sold approximately 634 BTC and continues to hold around 826 BTC, according to Bitcoin Treasuries data. Following the announcement, Fold's Nasdaq-listed stock FLD surged approximately 160%, as the sale aimed to reduce financing risk and improve cash flow amid the recent Bitcoin price decline from its $71,000 peak.
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