Fold Holdings: Strategic Growth and Bitcoin Integration Drive Buy Rating

Kevin Dede, an analyst from H.C. Wainwright, reiterated the Buy rating on Fold Holdings (FLD – Research Report). The associated price target remains the same with $7.00.

Kevin Dede has given his Buy rating due to a combination of factors that highlight Fold Holdings’ strategic positioning and growth potential. The introduction of the Fold bitcoin gift card is a significant catalyst, expanding the company’s retail reach and customer acquisition funnel. By partnering with a major distributor, Fold gains access to a vast network of points of sale, enhancing its market presence. The gift card’s unique positioning in retail locations alongside major brands like Apple and Amazon further strengthens its visibility and appeal.
Additionally, Fold’s innovative approach to integrating bitcoin into everyday financial services is expected to drive significant revenue growth. The launch of a bitcoin rewards credit card, which already has a substantial waitlist, is anticipated to complement the gift card initiative, pushing sales towards the projected $53.5M for the year. The company’s increased bitcoin holdings and reduced liabilities also contribute to a solid financial foundation, supporting the bullish investment thesis. These strategic moves are expected to capitalize on the growing adoption of bitcoin, making Fold Holdings an attractive investment opportunity.

According to TipRanks, Dede is a 4-star analyst with an average return of 4.5% and a 40.20% success rate. Dede covers the Technology sector, focusing on stocks such as BIT Mining, Ryvyl, and Canaan.