Bitcoin Rewards App Fold Locks in $250M Facility to Increase BTC Treasury

Fold Sets Up $250M Equity Facility to Strengthen Bitcoin Treasury

Bitcoin-focused financial services firm Fold (FLD) has secured an equity purchase facility worth up to $250 million, aiming to further build out its bitcoin holdings.

The Arizona-based company revealed Tuesday that it has signed an agreement granting it the right—but not the obligation—to issue and sell new shares totaling up to $250 million, pending regulatory approval.

If executed, Fold plans to use a majority of the proceeds to increase its corporate bitcoin treasury, which currently holds 1,490 BTC.

The facility was arranged through Cohen & Company Capital Markets, a unit of J.V.B. Financial Group, LLC.