Bitcoin Dips to $64K—Fear Spikes, Will You Hold or Fold? Phemex
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Fold has announced the launch of its Bitcoin credit card in partnership with Stripe and Visa. The crypto firm joins a host of other companies that have rolled out a similar offering. Meanwhile, the FLD stock is on a downtrend amid this development. Fold Rolls Out Bitcoin Rewards Credit Card In a press release, the
The post Fold Launches Bitcoin Credit Card with Stripe and Visa Partnership appeared first on CoinGape.
]]>Bitwise has added Fold Holdings and Bitdeer Technologies to its Bitcoin Standard Corporations Index (OWNB). These firms now join Strategy, formerly MicroStrategy, Elon Musk’s Tesla, and many others already profiled in the fund. This brings the number of companies on the OWNB Index Fund to 22, with collective BTC holdings of more than 648,000.
The Bitwise Bitcoin Corporation Index Fund
This crypto index and exchange-traded funds provider announced the latest development on X earlier today. The news comes only two weeks after OWNB went live with a focus on companies with exposure to Bitcoin.
The index tracks top companies that hold Bitcoin as treasury assets in their balance sheets. According to the asset management firm, OWNB fund does not directly invest in Bitcoin but or indirectly offers exposure to the coin through derivatives referencing BTC.
Bitwise Standard Corporations ETF is one of the first in the ETF niche. The new ETF automatically assigns 1.5% weighting to corporations with BTC holdings over 1,000 but less than 33% of the proprietary assets.
The Composition of the Bitwise OWNB Index Fund
The top ten companies on this list are Strategy, Bitcoin mining firms MARA Holdings and Riot Platform, Tesla, Cleanspark, Hut 8, Block Inc, Coinbase Exchange, Boyaa Interactive, and Metaplanet.
Each company holds a minimum of 1,000 BTC in its treasury. Strategy increased its holdings to 506,137 BTC worth over $42 billion. It achieved this feat after it acquired 6,911 BTC for $584 million earlier this week. Tesla holds 11,509 BTC, Coinbase holds 6,885 BTC, and Cipher Mining has a minimum holding of 1.032 BTC.
With the amount of BTC held, Strategy’s holding gives it the highest weight in the Bitwise Standard Corporations Index at 22.64%. MARA and Riot weightings of 10.67% and 10.04%, respectively, are barely 50% of that of the Michael Saylor-led business intelligence and software company.
New entrants to the Bitwise Bitcoin Standard Corporations Index!
The Bitwise Bitcoin Standard Corporations ETF $OWNB seeks to track an index of companies like $MSTR, $MARA, and $TSLA that hold more than 1000 BTC as a treasury asset. That index was just reconstituted.
The… pic.twitter.com/cFXPf7EpLR
— Bitwise (@BitwiseInvest) March 25, 2025
Japanese financial leader Metaplanet ranked fourth largest holding, weighing 5%. Meanwhile, the firm’s collective Bitcoin holding represents 3.2% of the total supply of Bitcoin in the crypto market.
Market and the Crypto ETF Pursuit
The broader crypto industry has recently seen a wave of ETFs, especially given the pro-crypto stance of the President Donald Trump administration.
Bitwise is amongst the asset managers who consistently filed S-1 registration for some crypto-based ETFs. In the first week of March, the firm submitted an S-1 filing with the U.S. Securities and Exchange Commission (SEC) for a new ETF focused on Aptos (APT).
Similarly, CBOE recently filed an S-1 registration statement on behalf of Fidelity Investments to list Solana ETF. The US SEC has acknowledged some of the filings for crypto ETFs in the past. This suggests a possible tilt toward approval.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Why Are Panshibi (SHIBI) Holders Making Dogecoin Exits And Can The New Meme Breakout 1,000 Fold Your Money Analytics Insight
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Fold, a Bitcoin financial services company, has filed an S-4 with the SEC as it prepares to go public as it currently holds over 1,000 Bitcoins in its corporate treasury.
The company operates a cashback debit card and allows users to purchase or sell Bitcoin directly via their accounts, making it a minor rival to Block’s (SQ) Cash App, enabling Bitcoin purchases and sales in addition to cashback rewards in cryptocurrency.
Fold IPO: Bitcoin Rewards Giant to List on Nasdaq
The company finally filed for IPO and now awaits the SEC’s answer. However, its decision to go public was announced in July this year and it befits the rapid growth and transformation characterizing the fintech industry at the moment. As underlined by the chief executive, the IPO will avail much-needed capital for expanding services and improving technological infrastructure. The plans are to use money raised through the listing to boost user experience, develop new products, and expand market reach.
NEW:
#Bitcoin only financial services company Fold files S-4 with the SEC, getting closer to going public
pic.twitter.com/TvbpGCT5pt
— Bitcoin Magazine (@BitcoinMagazine) October 7, 2024
Fold’s Bitcoin strategy is also part of a broader trend for fintech companies to integrate digital currencies into their businesses. It makes the company look forward-thinking and ready for the future of finance. So far, this has yielded significant returns; any increases in Bitcoin’s value bolster the firm’s balance sheet.
The rewards model lies at the heart of the company’s business model, allowing users to earn Bitcoin through purchases. This has driven user growth and engagement as people look for ways of acquiring more Bitcoins without directly investing in the market. The IPO should be among the most important events in fintech and crypto. The firm says its innovative approach and strong market position attract huge investor interest. It will list shares on NASDAQ under the ticker symbol FOLD.
Fold IPO – Next MicroStrategy?
If listed, Fold will join an elite group of well-known public companies with Bitcoin on their balance sheet. Most prominent among them is MicroStrategy, holding a stash of 252,220 Bitcoins as of September, which, if valued at today’s prices, will be worth approximately $15 billion. Recently, the company’s CEO, Michael Saylor, updated his followers about the company’s plans to offer a private offering of $700 million in convertible senior notes.
However, it’s not just MSTR that is grappling with Bitcoins. As of September, Block is holding 8,211 Bitcoins, representing more than $630 million.
Optimism over spot Bitcoin ETFs, this year’s Bitcoin halving, and next year’s US presidential elections will propel Bitcoin prices higher in 2024. Still, crypto investors remain confident that the election results between Donald Trump and Kamala Harris will not impede Bitcoin’s journey toward the $100,000 mark.
This optimism has simultaneously increased stock prices of those companies holding Bitcoin-for instance, Bitcoin is up about 49% year to date. In comparison, shares of MicroStrategy have surged nearly 165% in the same period.
Fold CEO: “We Nailed the Timing”
In a recent interview, Will Reeves, founder and CEO, emphasized the importance of timing, stating that the company has effectively nailed the timing of its product. By allowing users to passively stack sats through a product that offers Bitcoin rewards for daily spending instead of traditional cash back, Fold creates a valuable first-touch experience with Bitcoin.
After identifying its core user base and refining the sats-back experience, Fold has expanded its product offerings to include additional Bitcoin services, such as buying and selling Bitcoin within the app and bill payment for sats back. Plans are in place to introduce a credit card and more financial services. The approach involves starting simple, providing value, ensuring optimal timing, and then expanding the service portfolio, which appears to be a successful strategy.
For founders in the crypto space, it’s highly recommended to listen to the episode for valuable insights, especially regarding when to focus on product development and when to prioritize growth. The perspective shared highlights that bear markets are ideal for building, while bull markets are best for attracting a wider audience and capturing as many new users as possible.
Teuta
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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SHIB Price Prediction: Will Shiba Inu Coin Hold or Fold at $0.000007? CoinGape
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The XRP community is singing praises of the multi-asset exchange, Uphold for continuing its XRP listing despite consistent regulatory disapproval and an extended lawsuit at hand. Uphold’s exclusive announcement determined that the exchange will not delist XRP unless the SEC’s alleged accusations against Ripple are adjudicated to legally prove XRP as security, or if the trading volume of the given token falls to a point where it’s impossible to back.
Don’t forget the exchange that stood by their customers…thank you @UpholdInc ! #XRP pic.twitter.com/v5HwtDOgs3
— TAIG (@TAIGxrp) November 16, 2021
While crypto exchange giants like Coinbase deny relisting XRP despite making public comments in support of Ripple, Uphold claims that they remain hopeful for the court to reach a “sensible resolution”, given the fortune of an entire community that is directly at stake with the verdict. Uphold has also mocked the SEC’s hypocritic stance of “consumer protection”, as in case the judgment is given in the commission’s favor then the consumers that the SEC is apparently fighting for will, in turn, suffer “billions of dollars of losses”.
“A vital part of the SEC’s remit is the protection of consumers. It is hard to see how a judgment rendering XRP essentially worthless and inflicting billions of dollars of losses on retail investors who purchased XRP in good faith would square with that remit. We remain hopeful of a sensible resolution.”
XRP slow bull and Ripple’s Settlement Speculations
The XRP lawsuit appears to be rushing towards a settlement, especially since Ripple’s latest suggestions to the Washington policymakers regarding the integration of the Commodity Futures Trading Commission (CFTC), either giving it greater regulatory power over the SEC, or dividing both commissions’ regulatory capacity into half. While CFTC has a history of a crypto-friendly regulatory approach, however, it remains part of the problem where XRP soon may be forced to come under strict regulatory oversight, this time around with two agencies responsible for policymaking. Ripple’s XRP was already suffering from a slow bull earlier this month but its condition became worse after the latest update in the case in favor of the SEC, resulting in the coin’s fall. Earlier this week, as bitcoin dropped, altcoins followed, but in the case of XRP, the lawsuit also played a major role in turning the token red.
Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Fold is a bitcoin rewards app providing a gift card platform used to help spend bitcoin in the real world. The app offers bitcoin cashback via its Visa debit card and mobile application. Its customers can earn bitcoin on everything they do: spending, saving, and investing.
Cardholders can win up to 100% back on every purchase, or even a whole bitcoin. It was founded in 2014 by Chris Martin, Corbin Pon, Matt Luongo, Will Reeves. The leading bitcoin rewards and payments app, Fold, made an announcement yesterday.
Fold Unveils AR Bitcoin Rewards Experience
In recent years, gamification in crypto has been on the rise. In this press release, the company announced that its augmented reality feature is launching alongside a free plan for their Bitcoin Rewards Debit Card. Fold’s augmented reality feature allows users to earn bitcoin and in-app benefits by exploring their physical surroundings. The popular bitcoin rewards startup is using AR in a bid to make crypto fun for the masses. “Instead of finding rare creatures in the world around you, like in the hit game Pokemon Go, Fold users will now be able to discover and collect bitcoin around them.”
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Will Reeves, Fold CEO, stated, “The Fold AR feature provides a fun, interactive way for consumers to earn rewards in bitcoin for their everyday spending. So many people are interested in participating in the growing bitcoin economy but aren’t sure how to get started. Fold makes it easy for anyone to get their first piece of bitcoin, whether it’s through Fold AR via the app or the Fold card.”
Later this month, users will be able to access the AR experience for a limited time every day. The app will give away approximately $100,000 worth of bitcoin during the current beta period. But according to Reeves, the number would fluctuate in future months depending on sponsorship and user interaction levels.
Related Reading | ZooKeeper Launch Satoshi’s Oasis Paradise: Stake $ZOO to Earn $BTC
Likening the new launch to Pokemon Go, Fold’s Head of Design, Rachel Mersky, commented: “Pokemon Go was a phenomenon, it was really the first of its kind to bring augmented reality into the homes & lives of everyday people, turning the whole physical world into a game arena. We always say we want to meet our users where they are, whether they are bitcoin maximalists or curious newbies. What better way to do that than to literally bring bitcoin to wherever they are — and make earning and stacking sats fun?”
Bitcoin trails $45,000 with market decline | Source: BTCUSD on TradingView.com
Free Debit Card Activation
The company also announced the removal of all signup and activation fees associated with their Spin (formerly Intro) debit card. It stated that “All US residents can now get started with the Fold Card for free by signing up for the Spin tier that rewards up to 25% back in bitcoin on every purchase.”
Featured image from CryptoSlate, Chart from TradingView.com
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