Fold sells portion of BTC holdings at $71K to repay $20M debt

Bitcoin (BTC) financial services application Fold (FLD) announced it has sold approximately $45 million worth of its BTC holdings at an average price of around $71,000. The company used the proceeds to fully repay a $20 million secured debt, with the remaining $25 million in cash to be invested in business growth. Fold explained that the sale has secured liquidity and improved its monthly net cash flow, adding that it will continue to hold a certain amount of Bitcoin.