What to know:
- Fold Holdings, the bitcoin rewards app, made its Wall Street debut via a SPAC merger with FTAC Emerald Acquisition Corp.
- Fold now joins the ranks of publicly traded companies with bitcoin on their balance sheets, boasting a whopping 1,000 BTC worth $96 million.
- FLD shares experienced a rollercoaster ride, surging 30% before giving back a sizable portion of those gains.
Oh, the drama! Fold Holdings, the bitcoin rewards financial services firm, made its grand entrance onto the Nasdaq stock exchange on Wednesday. The shares, darling, they soared more than 30% above $13 in the early minutes of trading before pulling back to the $11 area. Quite the performance, wouldn’t you say?
Fold went public via a business merger with FTAC Emerald Acquisition Corp. (FTAC), a publicly traded special purpose acquisition company (SPAC). How very Wall Street of them!
Now, Fold is the latest addition to the publicly traded companies with bitcoin (BTC) on their balance sheets, following in the footsteps of Michael Saylor’s Strategy and smaller companies like Semler Scientific and Metaplanet. Fold holds 1,000 BTC, worth $96 million at current prices, according to public filings. Quite the nest egg, wouldn’t you agree?
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2025-02-19 18:13