Fold Sells $45 Million in Bitcoin to Repay Debt and Fund Expansion (original) (raw)
The post Fold Sells $45 Million in Bitcoin to Repay Debt and Fund Expansion appeared first on Coinpedia Fintech News
Fold, a Nasdaq-listed Bitcoin financial services firm, sold approximately 45millionworthofBitcoinatanaveragepriceof45 million worth of Bitcoin at an average price of 45millionworthofBitcoinatanaveragepriceof71,000 as part of a broader capital restructuring plan. The company used about 20millionoftheproceedstorepayBitcoin−backedsecureddebt,withtheremaining20 million of the proceeds to repay Bitcoin-backed secured debt, with the remaining 20millionoftheproceedstorepayBitcoin−backedsecureddebt,withtheremaining25 million allocated to business growth initiatives. The move matters …
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