Fold sells $45 million in Bitcoin to pay off secured debt and fund business growth

OdailyOdaily Planet Daily reports that Fold, a Nasdaq-listed Bitcoin financial services provider, has announced the sale of approximately $45 million worth of Bitcoin at an average price of $71,000, while concurrently completing a capital restructuring. Of the proceeds from this sale, $20 million was used to repay Bitcoin-collateralized secured debt, and the remaining $25 million was allocated to business development. The company has now fully repaid all secured debt, improving its liquidity and cash flow position. Fold stated that it still holds a substantial Bitcoin reserve and will flexibly adjust its asset allocation based on future earnings performance to support the company's continued growth. (Globenewswire)