Fold, a Bitcoin financial services company, announced its upcoming Bitcoin rewards credit card will be issued on the Visa network in collaboration with Stripe. The card will allow users to earn up to 3.5% back on purchases, with no categories or deposit requirements. Users receive an unlimited 2% back instantly and potentially an extra 1.5% when using their Fold Checking Account, with enhanced rewards from partners like Amazon and Starbucks. Although Fold’s stock initially rose following the announcement, it experienced a sharp decline, falling over 14% on the day. The CEO emphasized that the credit card will make Bitcoin more accessible. Despite the downturn, Fold's stock is still up around 8% for the week. In contrast, competitor Bakkt experienced a significant rise in stock price after announcing the addition of CEO Michal Alfred to its board. Bitcoin's market activity has shown little fluctuation recently, remaining relatively stable after a slight decline over the week.

Source 🔗