In a monumental move for the crypto industry, Fold made its official debut on the Nasdaq on Feb. 19, 2025. This is big news for crypto as Fold is the first Bitcoin-specific financial services (not an exchange or mining) company to trade on the legacy market behemoth we've all grown to love. Fold Holdings is now the 12th crypto-native company that has been granted a listing. This event highlights the growing acceptance of blockchain technology but also creates new opportunities for investors seeking "pseudo" exposure to bitcoin.
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Fold, What's That?
Fold is an OG bitcoin cash-back app that's been around since 2019. This was shortly after I got into crypto. One of the 1st maxims that were imprinted on my brain in this space is to "stack sats". Those little satoshis grow right alongside $BTC. 20,50, 100 sats here and there really makes a difference over time. With bitcoin drips all but completely phased out at this point, I was in search of more ways to add to my stack. In walks Fold.
While on a crypto webinar, I was introduced to the BTC cash-back apps, Fold and Lolli. If you don't mind a KYC source (just don't mingle) of bitcoin income, they both are reputable ways to consistently add to your stack. On Fold (and Lolli) you can earn $BTC three ways:
- Bitcoin cash-back for making purchases with the Fold debit card or digital gift cards purchased through Fold
- Referrals
- The daily reward spin - pretty much a drip, daily spin wheel where you can win sats
I've currently earned about 140k sats since joining Fold, almost solely from the spin wheel. This could've been exponentially greater if I made a conscious effort to use the gift cards when I did access spending. Between Fold and Lolli you can pretty much access all major brands and retailers. I never got a Fold debit card I could use for all purchases because it isn't allowed in my state.
Fold also let's you buy, sell, and most importantly, send bitcoin.
The Road to Nasdaq
This move was the result of a SPAC acquisition with FTAC Emerald Acquisition Corp. After gaining approval, Fold's common stock began trading under "FLD", marking a new beginning in the company's history. I'll be honest, with this move I wouldn't be surprised if the rewards dried up over time. Acquisitions usually means the orange is about to squeezed.
my email inbox this morning
These developments could potentially accelerate Bitcoin adoption and lead to legacy financial service applications speeding up their implementation plans.
Day 1 Market Performance
Fold opened up at $10.35 per share, peaked to near $14, and has since settled at $11+. In spite of current uncertainty in the real crypto market, performance so far reflects investor confidence. We'll see how long that lasts.
Will I be grabbing some...absolutely not. I never saw the purpose in acquiring paper crypto assets. It doesn't make sense. Why expose yourself to probable crypto-like volatility along with all the cons of owning paper assets? Just buy bitcoin...
Future Outlook
I personally don't care for or about the merging of crypto and legacy markets but the truth of the matter is its inevitable at this point. This is an inherent result of scaling and increased demand. The Fold listing just demonstrates the growing maturity of the market and overall acceptance by traditional financial institutions.
It will be interesting to see what kind of products these companies will start cooking up. Fold is coming out swinging and their first product after this announcement will be a BTC cash-back credit card with 2% rewards. That will give users the ability to potentially earn $0.20 on every dollar they spend back in $BTC. These rewards are also tax-free. Why? Because "cash-back" is considered a discount and therefore isn't considered a taxable event (NOT TAX ADVICE).
This listing is an ongoing trend of the unavoidable fusion of blockchain and legacy financial institutions. Its a peculiar situation, especially when you point out the fact that these two frameworks are opposing in their idealogies. Such an awkward dance.
Read the full press release here
Peace & Prosperity
Join Fold w/ my referral link and get some free sats.