Fold Reports Q4 Revenue Growth as CEO Predicts Bitcoin Rewards Will Surpass Airline Miles
Will Reeves, CEO of Fold, indicated the company is prioritizing expansion of its 2026 product offerings following the elimination of two convertible debt obligations, clearing financial obstacles and allowing concentration on expansion initiatives.
Fold, a Bitcoin-focused financial services company, announced an 8% increase in fourth-quarter revenue reaching $9 million, while simultaneously adding approximately 2,000 new customers and launching additional products designed to incorporate Bitcoin reward programs into everyday consumer transactions.
These financial results arrive shortly after the company introduced its Fold Bitcoin Rewards Credit Card, a product powered by Visa and Stripe technology, which provides users with cashback rewards and other incentives.
Speaking during the company's Q4 and full-year 2025 earnings conference call held on Tuesday, CEO Will Reeves expressed his conviction that "Bitcoin rewards will overtake the airline miles as the preferred consumer reward in the US."
"That means that these card programs and our card program needs to scale to millions of cardholders," Reeves stated, further emphasizing that enhanced risk management and fraud prevention measures need to be put in place before the company can "really open the floodgates" for widespread consumer adoption.
Among other cryptocurrency platforms providing Bitcoin (BTC) credit card reward programs to US consumers are Coinbase, Gemini, Swan Bitcoin and River Financial.
Notwithstanding the positive outlook, Fold experienced a 3% decline in transaction volume on a year-over-year basis, falling to $215 million, and posted an operating loss totaling $6 million, which contributed to an overall net loss of $69.6 million for the complete 2025 fiscal year, according to the company's most recent financial disclosure.
Nevertheless, Reeves maintained that Fold successfully achieved its objectives during its initial full year operating as a publicly traded entity, commenting:
"We continued to add customers and expand our platform while building the foundation to scale a Bitcoin-native financial services ecosystem across multiple interconnected product lines."
Among Fold's latest product launches is Fold for Business, which allows corporations to incorporate Bitcoin into employee payroll systems, bonus structures, and other corporate financial initiatives.
Among its most prominent partnerships is the collaboration with Steak 'n Shake, a restaurant chain that both accepts Bitcoin payments and compensates its workers with Bitcoin-based bonuses.
Reeves highlighted that Fold has improved its financial position by "extinguishing our two outstanding convertible debt instruments."
According to him, this action "removes structural overhang and directs financing solely to the growth of our operating businesses."
"With the credit card now live, the launch of an enterprise product, and a cleaner capital structure in place, 2026 is about scaling what we've built across customer acquisition, engagement, cross-sell, and retention."
Fold has been selling Bitcoin
In spite of Reeves' optimistic projections for the balance of 2026, Fold has reduced its Bitcoin treasury by nearly half.
The company's Bitcoin holdings, which totaled 1,527 BTC at the conclusion of the previous year, have decreased to 827 BTC as of March 17.
FLD shares continue to slide
The reduction in Bitcoin holdings coincides with a continued decline in Fold (FLD) stock value, which has dropped 59% year-to-date in 2026 and plummeted 83.8% over the preceding 12-month period, according to data from Google Finance.
FLD experienced gains during after-hours trading on Tuesday following the earnings announcement, climbing 13.4% to reach $1.27.
Despite this temporary uptick, the company's stock price subsequently declined 4.46% during Wednesday's trading session, bringing its share price back down to $1.07.
