Happy Wednesday. Two bear days in a row. Will it continue for a third?
Bulls say not so fast for now!! But will it remain?
🟥 or 🟩?
Question
Fold had its Q2 earnings call and I came away feeling excited! Can you tell me what I am excited about? Those who can will be zapped along with the correct market guess
Bulls (🟩) Win:
Let’s see who nailed my fold bullishness
I'm curious!
🟩 CEO Will Reeves outlined Fold's evolution from a simple Bitcoin rewards app into a broader Bitcoin financial services platform
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Because Fold is making a real bet on Bitcoin becoming financial infrastructure. The credit card is getting traction, debt is coming down, and now we get to see whether they can turn that Bitcoin thesis into a scalable business.
🟩
Fold is slowly building a Bitcoin financial ecosystem, not just selling rewards. Could be the reason.
🟩 The new Lead Bank partnership! Participating in the economics of customer deposits means they can finally generate steady, recurring revenue beyond just bitcoin transactions
🟩 Despite market fluctuations, Fold held onto its core stash, maintaining 194 BTC in its investment treasury.
🟩
You should be excited because they're cutting debt while adding new products and capital. Q2 may look ugly on the surface, but underneath it looks like a company trying to turn itself into a much bigger Bitcoin business.
wiped out that $20M in debt and cleaned up the balance sheet, plus the credit card early access is scaling fast.
😎 market guess: 🟩
The Q2 results were a monster success because Fold doubled its early access credit card users to 2,000+ (with transaction volume per user spiking 4x) while simultaneously wiping out $20M in corporate debt to free up 521 BTC from collateral restrictions. 🟩
🟩 You must be hyped about the Fold Credit Card metrics. Over 2,000 cardholders in early access, more than a 100% increase quarter-over-quarter!
🟩 Fold Bitcoin Credit Card
🟩 The company said they are already making a profit on the fees every time someone swipes the new credit card.
🟩 They are using this early period to test things out before launching the credit card to the public later this summer!
🟩 Getting rid of that debt saves them $145,000 every single month in interest fees.
🟩 Users who have the credit card are shopping a lot, card transactions per user went up 4 times
🟩 I would say you’re definitely excited about them completely eliminating that $20 million in secured bitcoin-backed debt under the Two Prime facility.
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Probably you are not exited at all! 😂
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Wiping out $20M in BTC-backed debt for sure! 🚀
massive balance sheet cleanup getting rid of that $20M load. if the early access adoption holds up, q3 could be huge.
direction: 🟩
Completely eliminating that $20 million in secured bitcoin-backed debt.
🟩
🟩 Retaining $25 million in unrestricted capital gives the team a solid runway to keep building through choppy market conditions.