Nasdaq-listed Bitcoin financial services company Fold announced that it has sold approximately $45 million worth of Bitcoin at an average price of $71,000 and completed a capital restructuring at the same time. According to the company, $20 million of the proceeds from the Bitcoin sale was used to repay Bitcoin-collateralized secured debt, while the remaining $25 million will be directed toward business development.
Secured Debt Fully Repaid
Fold said it has now settled all of its secured debt, improving both its liquidity position and cash flow profile. The transaction allowed the company to address its debt obligations while retaining funds for continued business investment. The disclosure was reported via Globenewswire.
After the sale, Fold stated that it still holds a substantial Bitcoin reserve. The company said it will continue to adjust its asset allocation flexibly based on its earnings situation, with the aim of supporting ongoing corporate development.