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Fold has acquired 475 BTC for $4 million, representing a significant expansion of its cryptocurrency treasury. The purchase was executed at an average price of approximately $8,421 per bitcoin, increasing the company's total holdings by nearly 50% to over 1,485 BTC. This strategic acquisition was financed through the issuance of convertible notes.
The company, which trades on NASDAQ under the ticker "FLD," has established itself as the first publicly traded bitcoin financial services company. With a market capitalization of $356 million, Fold has positioned itself among the top ten U.S. public companies holding the largest bitcoin treasuries. The convertible notes were issued at a conversion price of $12.50 per share, reflecting a premium exceeding 100% compared to FLD's closing price on March 5, 2025.
This investment aligns with Fold's fundamental belief in bitcoin as a valuable long-term asset. The expanded treasury serves as a corporate strategic reserve while offering bitcoin exposure to investors. CEO Will Reeves has emphasized that this acquisition is part of establishing a bitcoin-powered financial ecosystem for the future. The company's focus remains on developing bitcoin-native financial products and integrating cryptocurrency into everyday financial services. This approach mirrors Acre's recent achievement of $100 million in TVL while maintaining transparency and user control throughout all transactions.
The acquisition occurs within a broader market context where bitcoin trades below $100,000 as of February 4, 2025. Global trade war concerns have impacted investor sentiment, yet there is growing recognition of bitcoin by nations as a strategic reserve asset. This trend is reflected in the increasing integration of bitcoin into monetary frameworks worldwide. Bitcoin's fixed supply cap serves as a key attraction for institutions seeking inflation protection in uncertain economic conditions.
Fold's investment strategy corresponds with emerging industry trends showing greater institutional involvement in bitcoin. Corporate treasury allocations to bitcoin are rising alongside growing demand for cryptocurrency exposure in traditional finance. The company aims to continue building its bitcoin treasury opportunistically while expanding access to bitcoin investment opportunities.
