Bitcoin Rewards Firm Fold Goes Public on Nasdaq via SPAC Merger
Fold Holdings (FLD), a Bitcoin rewards financial services company, made its debut on the Nasdaq stock exchange Wednesday after completing a merger with FTAC Emerald Acquisition Corp. (FTAC), a special purpose acquisition company (SPAC).
Shares of FLD saw an initial surge of over 30%, climbing above $13 in early trading before retreating to around $11.
By going public, Fold joins a growing list of companies holding Bitcoin (BTC) on their balance sheets, following in the footsteps of Michael Saylor’s Strategy, as well as smaller firms like Semler Scientific and Metaplanet. According to public filings, Fold currently holds 1,000 BTC, valued at approximately $96 million at today’s prices.
