Fold Reports Q4 Growth, CEO Predicts Bitcoin Rewards to Surpass Air Miles
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In a recent announcement, Fold, a financial services firm specializing in Bitcoin, reported notable growth in its fourth-quarter revenue, reflecting an 8% rise to $9 million. The company attributes this increase to the addition of 2,000 new customers and the launch of new products designed to facilitate Bitcoin reward programs for consumers. This comes on the heels of their introduction of a Bitcoin Rewards Credit Card, powered by Visa and Stripe, which provides users with cashback and rewards for their purchases.
During Fold’s earnings call, CEO Will Reeves conveyed his ambition for Bitcoin rewards to eventually eclipse traditional airline miles as the leading consumer incentive in the United States. He emphasized the necessity for their card programs to expand significantly to accommodate millions of users. Reeves also pointed out the importance of enhancing risk management and fraud controls to support this growth.
While the outlook appears optimistic, Fold also reported a 3% decline in transaction volume compared to the previous year, totaling $215 million, along with an operating loss of $6 million. This contributed to a substantial net loss of $69.6 million for the year 2025, as noted in their latest financial disclosures.
Despite the financial setbacks, Reeves expressed satisfaction with the company’s progress during its first year as a public entity. He remarked on the achievement of customer growth, platform expansion, and the establishment of a robust foundation for a Bitcoin-centric financial ecosystem.
Recent initiatives from Fold include the launch of Fold for Business, which allows companies to integrate Bitcoin into their payroll and bonus systems. Notably, Steak ‘n Shake has partnered with Fold to accept Bitcoin payments and provide employee bonuses in Bitcoin.
Reeves highlighted that the company’s financial position has improved after eliminating two outstanding convertible debts, which has lifted structural constraints and allowed focused investment in growth areas. He shared that the introduction of their credit card, alongside an enterprise product and streamlined capital structure, sets the stage for ambitious scaling in 2026.
Nonetheless, challenges persist, as Fold has substantially reduced its Bitcoin holdings, cutting them from 1,527 BTC at the end of last year to 827 BTC as of March 17. This reduction coincides with a significant drop in Fold’s share price, which has plummeted 59% in 2026 and 83.8% over the past year, according to Google Finance data.
After releasing their earnings results, Fold’s stock saw a brief rise of 13.4% in after-hours trading, reaching $1.27, but subsequently fell 4.46% on Wednesday, landing at $1.07. Despite these fluctuations, the company remains committed to navigating the complexities of the Bitcoin market and enhancing its service offerings.
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