Bullish indicating open at $55-$60, IPO prices at $37
PHOENIX - Fold Holdings, Inc. (NASDAQ:FLD), a bitcoin financial services company with a market capitalization of $186 million, announced Monday that its Fold Bitcoin Gift Card is now available on Giftcards.com, the largest digital gift card retailer in the United States.
The integration gives Fold access to one of the most heavily trafficked e-commerce destinations in the gift card category, providing consumers with a way to purchase bitcoin through a familiar gift card format.
According to the company’s press release, the Fold Bitcoin Gift Card is the only bitcoin gift card available on the platform, which offers gift cards from brands across dining, gaming, apparel, travel and other categories.
"This partnership gives Fold efficient, high-volume reach to mainstream consumers, while giving investors a glimpse of how bitcoin distribution is scaling beyond exchanges and into everyday commerce," said Will Reeves, Chairman and CEO of Fold.
The integration is part of Fold’s broader partnership with Blackhawk Network (BHN), which provides access to over 400,000 retail and digital distribution points globally. The company plans additional retail and physical expansion later this year.
Fold Holdings describes itself as a bitcoin financial services company that offers products including the Fold App, Fold Credit Card, and Fold Debit Card. The company reports holding over 1,492 BTC in its treasury.
The bitcoin gift card is now available for digital purchase on Giftcards.com, based on the company’s announcement.
In other recent news, Fold Holdings has secured a $250 million equity purchase facility. The proceeds from this facility are primarily intended to expand the company’s bitcoin treasury holdings. Fold Holdings will have the right, but not the obligation, to issue and sell up to $250 million in newly issued common stock, with control over the timing and amount of any drawdowns subject to certain restrictions. Additionally, Fold Holdings announced the termination of Nicolleta Goncalves, the vice president of risk and compliance, without providing further details or information on a replacement. On the analyst front, Cantor Fitzgerald has initiated coverage on Fold Holdings with an Overweight rating and a price target of $6.50. Northland Securities has also started coverage, assigning an Outperform rating and a $10 price target, citing the company’s unique position in the financial services sector. These recent developments reflect a period of significant activity and strategic positioning for Fold Holdings.
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