Fold Holdings has added to its Bitcoin -reserves for another 10 coins. According to the statement of the organization itself, the purchase was made at an average price of about $87,500 per Bitcoin Fold CEO Will Reeves said the latest acquisition is fully aligned with the firm's long-term strategy.
Currently, the company, which provides financial services in the cryptocurrency sector, has more than 1000 BTC on its balance sheet. Fold Holdings received the money to buy its flagship asset after its merger with FTAC Emerald Acquisition, which took place in July 2024 at a valuation of $365 million. Since October last year, shares of the American company Fold Holdings have been traded on the Nasdaq exchange under the ticker symbol "FLD".
With its latest Bitcoin acquisition, Fold Holdings has become the 23rd largest public corporate holder of BTC in the world.
Fintech company Fold was founded in 2019 by William Reeves, Matthew Luongo, and Corbin Pon. According to PitchBook, the company has raised $20,2 million from 28 investors. Fold customers can earn Bitcoin rewards using a debit card through the company's mobile app. The fintech firm currently has more than 574 active users.
