We Study Billionaires - The Investor’s Podcast Network

BTC196: Bitcoin-powered Banking at Fold w/ Will Reeves (Bitcoin Podcast)

Aug 21, 2024

Will Reeves, Founder and CEO of Fold, shares his journey from Bitcoin enthusiast to leading a Bitcoin payment and rewards company. He reveals how Fold transitioned from gift cards to a full financial services app. The discussion highlights Fold's IPO, their vision of becoming a Bitcoin-powered bank, and innovative offerings like credit and lending. Reeves also explores the 'flywheel effect' of Bitcoin reserves on growth and the importance of user feedback in shaping products, along with the promising future of Bitcoin in mainstream personal finance.

01:02:40

Episode guests

Will Reeves

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Episode notes

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Quick takeaways

Will Reeves' journey into Bitcoin led to the establishment of Fold, evolving from a rewards platform to a financial services app.

Fold's unique strategy of accumulating Bitcoin as a treasury asset positions it alongside innovative companies, reinforcing its financial stability and growth.

The company's expansion into services like credit and insurance reflects a commitment to integrate Bitcoin into traditional financial systems for users.

Deep dives

Fold's IPO and Market Impact

The successful IPO of Fold, a Bitcoin payment and rewards company, highlights a significant milestone in the integration of Bitcoin into public markets. Valued at approximately $365 million, the IPO serves as a testament to the maturation of Bitcoin-focused companies, indicating a critical juncture where consumer and institutional products are ready for mainstream adoption. This move not only positions Fold as a leader in Bitcoin financial services but also reflects broader trends in the market, where more public companies are expected to embrace Bitcoin as a key financial asset. The founder, Will Reeves, emphasizes the importance of team and timing in this achievement, suggesting that the strategic decision to go public directly aligns with Fold's goals of maximizing shareholder value and serving customers effectively.

Intro

2min

IPO Buzz: Bitcoin Rewards Revolution

12min

Unlocking the Advantages of Bitcoin as a Reward

4min

Bitcoin Accumulation Strategies

6min

Evolving User Experience Through Feedback and Vision

4min

Transforming Bitcoin Wealth into Banking Solutions

5min

Revolutionizing Personal Finance with Bitcoin

19min

The Bitcoin Renaissance

7min

In this episode, we explore Will Reeves' Bitcoin journey and how it led to the creation of Fold, a company that has evolved from offering Bitcoin rewards through gift card purchases to becoming a comprehensive financial services app. We also discuss Fold’s recent decision to go public, the company's long-term vision as a Bitcoin-powered bank, and the expansion of its services, including credit, lending, and insurance. Additionally, Will shares insights into Fold's treasury management, partnerships, and the global adoption of Bitcoin.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

07:55 - Will Reeves’ background and the defining moment that led him to Bitcoin.

09:35 - Key inflection points in Fold’s evolution from a Bitcoin rewards platform to a full-fledged financial services app.

14:45 - The "flywheel effect" of increasing Bitcoin reserves and its impact on Fold’s future growth.30:13 - The toughest challenges Fold faced during its transition.

16:57 - Insights into Fold’s decision to go public and expectations from the public markets.23:32 - Fold’s vision of becoming a Bitcoin-powered bank and how they plan to redefine banking.

19:59 - How Fold’s Bitcoin reserve factors into the company’s financial strategy.

24:37 - How user feedback drives Fold’s product development cycle.

25:48 - Fold’s plans for expanding into credit, lending, and insurance.

27:52 - Trends in how Fold users are utilizing their Bitcoin rewards.

31:31 - Fold’s global expansion plans and how the company fits into the international financial landscape.

43:21 - The impact of partnerships with Visa, BitGo, and Marqeta on Fold’s growth.

BOOKS AND RESOURCES

Try the Fold App.
Will Reeves' X (Twitter) Account.

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