Minimum folds to make a triangle out of US $1 note

What is the minimum number of folds required to make a triangle out of US $1 note?
My Guess(correct me if I am wrong):
2 folds.
Dimension of US $1 note is 2.6 Inches by 6.1 Inches
We need a square to make a triangle. So the first fold vertically almost makes it a square and the next diagonal fold make it a triangle.