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

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 21 August 2024

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

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. NEW TO THE SHOW? Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Range Rover Vacasa AT&T The Bitcoin Way Public American Express Onramp SimpleMining Fundrise Shopify USPS Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:02.0	Hey everyone, welcome to this Wednesday's release of the Bitcoin Fundamentals Podcast.
0:07.0	This episode is brought to you by River, the place that I personally go to securely invest in Bitcoin with confidence and with zero fees.
0:15.0	On today's show, I bring back a super smart and hardcore builder with Will Reeves.
0:20.0	Will is the founder and CEO of Fold, a Bitcoin Payment and Rewards Company that he built from the
0:25.3	ground up that just recently went public and is now valued at $365 million.
0:31.5	This was a fascinating conversation where we not only covered how he did it all, but more importantly where he's going next, what it means to be able to tap into public markets with a Treasury now of a thousand Bitcoin on the balance sheet and much
0:44.4	much more. So without further delay, here's my conversation with Will.
0:52.1	Celebrating 10 years, you are listening to Bitcoin Fundamentals by the Investors Podcast Network.
0:59.0	Now for your host, Preston Pish. Pish. Hey everyone, Hey everyone welcome to the show I am here with wheel Reeves it's been a little while since we talked last will
1:15.8	It has I think it was the rewards as the Trojan horse for Bitcoin adoption 20 20 20, 2021.
1:24.0	It's almost been a full cycle.
1:25.6	So this is, this is.
1:27.7	The fact that's only been one cycle is crazy.
1:29.8	Tells you how much we've gone through.
1:31.9	It feels like it should have been like three or four cycles.
1:34.7	Hey, so this is massive news, massive news
1:37.8	for a founder and entrepreneur like yourself.
1:40.6	IPO, wow, I think any entrepreneur is just salivating to hear this story and excited to hear
1:48.6	such awesome news so first of all congrats to you and what you've built.
1:53.8	This came in at, I think the number is around $365 million
1:58.1	is where the market cap on the business is going to be
	...

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