Fold Holdings Shares Drop 14% After Bitcoin Credit Card Announcement

Fold Holdings, Inc. (NASDAQ: FLD) plans to launch a Bitcoin Rewards Credit Card on September 23.
The card offers up to 3.5% back in Bitcoin on every purchase, with an instant 2% and an additional 1.5% for using the Fold Checking Account.
Stripe provides backend infrastructure while Visa serves as the issuing network, ensuring reliability and global reach.
Cuy Sheffield, Head of Crypto at Visa, highlights the card's ability to allow earning Bitcoin where Visa is accepted.
Despite this expansion into the Bitcoin ecosystem, Fold's shares dropped over 14%, starting at $3.88 and closing at $3.31, affected by general bearish trends in the crypto market.

Graphic of price for the shares of Fold Holdings, Inc.