Fold Secures $250M Equity Facility to Expand Bitcoin Holdings

Fold (FLD), the publicly traded bitcoin financial services firm, has obtained an equity purchase facility of up to $250 million as it looks to increase its bitcoin reserves.

The Arizona-based company announced on Tuesday that it has entered into an agreement allowing it the option—but not the obligation—to issue and sell up to $250 million worth of new shares, subject to regulatory approvals.

Should Fold choose to tap the facility, it intends to allocate a significant portion of the funds toward growing its corporate bitcoin treasury, which currently stands at 1,490 BTC.

The financing arrangement was facilitated by Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC.