Bitcoin Financial Services Firm Fold Repays $66 Million in Debt, Releases BTC Collateral

Fold Holdings (NASDAQ: FLD) focuses on services including a Bitcoin rewards card. As of December 31, 2025, the company had two convertible notes with combined principal of $66.3 million, secured by BTC. Because conversion would dilute existing shareholders, repaying the notes was important to Fold’s capital structure and credit-card expansion.

Fold retired the two notes on February 26 and 27, 2026, and announced on February 27 that it had eliminated $66.3 million in principal and released 521 BTC. On June 10, it said it had also sold about $45 million of BTC at an average price of roughly $71,000, repaid $20 million in secured debt and retained $25 million in non-dilutive cash.