Fold Holdings: Revolution of Reward Cards with Bitcoin Integration

Fold Holdings, a financial services company, has announced that its Bitcoin rewards credit card will run on the Visa network—thanks to a partnership with financial infrastructure service provider Stripe. However, despite an early price rise of Fold's stock on the Nasdaq, it quickly fell during the day. Fold's innovative credit card allows users to collect Bitcoin through everyday spending. All purchases are rewarded with up to 3.5% in Bitcoin, without the need to meet specific spending categories or deposit requirements. Customers instantly receive 2% back in Bitcoin on all payments, with an additional 1.5% if paid via the Fold checking account. Especially generous rewards of up to 10% are available at major partners like Amazon, Target, Home Depot, Uber, and Starbucks, as well as many other brands. The price of Fold's stock opened at $4.69, after closing at $3.88 the previous day. Shortly thereafter, however, the value fell to $3.32, corresponding to a decline of over 14%. Fold’s founder and CEO, Will Reeves, emphasized the card’s clear added value, especially the barrier-free access to Bitcoin for everyone. Although no release date for the Fold credit card has been announced, Stripe has meanwhile processed transactions worth $3.1 billion and disbursed rewards worth over $83 million in Bitcoin. In addition, Stripe currently holds 1,485 BTC, equivalent to approximately $167 million. Last Friday, Fold’s stock experienced a surge thanks to speculation around renowned crypto investor Mike Alfred. But instead of joining Fold, Alfred was surprisingly appointed as an advisor at Bakkt, which drove Bakkt’s stock price over $17.31. This led to a further decline in Fold's stock, although it is 8% higher in the weekly trend, despite a month-to-date loss of 12%. Meanwhile, the Bitcoin price remains stable at $112,774, even though it has fallen by 3% over the week. Forecasts from Myriad Markets show a pessimistic sentiment for a short-term all-time high of $125,000, as the majority of users consider a drop to $105,000 more likely.