Bitcoin rewards fintech company Fold sold about $45 million worth of bitcoin it held to repay secured debt in full and secure growth funding. The market interpreted it as a sign of improved financial structure, pushing the stock sharply higher.

On June 10, the cryptocurrency outlet DeCrypt reported that Fold sold its bitcoin at an average sale price of about $71,000. Of the funds raised, $20 million was used to repay bitcoin-backed secured debt, while the remaining $25 million was reallocated as growth capital to expand the business.

The move leaves Fold effectively debt-free in terms of secured borrowing. The company expects cash flow to improve as it no longer has to make monthly interest payments, and it expects financial risk from short-term market volatility to be sharply reduced.

Fold Chief Executive Will Reeves (윌 리브스) said, "This decision shows confidence in the company’s long-term growth potential." He said it strengthened the balance sheet and lowered financing risk, allowing the company to focus on executing its product roadmap.

The market reaction was immediate. Fold shares jumped to as high as $1.6 intraday after the announcement, up 162 percent from the previous close. The stock later gave back some of the gains but was trading around $1.1 at the time of writing, still up more than 80 percent.

Despite the rebound, the longer-term performance has been weak. Fold shares are down about 58 percent so far this year and have fallen more than 78 percent over the past 12 months.

Fold is a bitcoin-focused fintech company that lets consumers accumulate and use bitcoin through everyday financial activity. It recently launched a bitcoin rewards credit card and a bitcoin gift card product, and it is also expanding its 'Bitcoin Bonus' service that supports employee cryptocurrency reward payments for corporate clients.

The company plans to use the funds raised to accelerate expansion of its bitcoin rewards card business. Reeves said Fold’s bitcoin credit card business is a key pillar of long-term growth and said the company will move aggressively to expand its member base and secure additional lending partnerships.

The decision comes amid a slowdown in performance. Fold’s first-quarter 2026 revenue was $5.6 million, down 21 percent from a year earlier. It is therefore seen as having chosen a strategy of monetising part of its bitcoin holdings to cut debt and secure resources for growth investment.

The industry sees the financial restructuring as likely to improve financial stability in the short term. It also sees how successfully the company can use the funds to expand credit card membership and launch new services as a key factor for corporate value going forward.