{"id":52009,"date":"2026-04-29T19:37:57","date_gmt":"2026-04-30T00:37:57","guid":{"rendered":"https:\/\/bitcoinmagazine.com\/?p=52009"},"modified":"2026-04-29T19:38:04","modified_gmt":"2026-04-30T00:38:04","slug":"strike-ceo-jack-mallers-bitcoin-conference","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/news\/strike-ceo-jack-mallers-bitcoin-conference","title":{"rendered":"Strike CEO Jack Mallers Announces Lending Proof-of-Reserves, Volatility-Proof Loans, and Backs Tether Merger Plan"},"content":{"rendered":"
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Strike CEO Jack Mallers announced a series of product updates and strategic moves Wednesday, including the launch of lending proof-of-reserves, a new “volatility-proof” bitcoin-backed loan structure built with Tether, and a $2.1 billion credit facility. <\/p>\n\n\n\n

He also said he supports a proposal<\/a> by Tether Investments to merge Strike with Twenty-One Capital and bitcoin miner Elektron Energy.<\/p>\n\n\n\n

Mallers said Strike’s<\/a> bitcoin-backed loan and line-of-credit business has grown since launch, with users drawn to the ability to borrow against bitcoin rather than sell it.\u00a0<\/p>\n\n\n\n

He described bitcoin as a savings account for many customers and said Strike cut its rate tiers across the board. Pricing now ranges from approximately 10.5% APR for loans under $250,000 to approximately 7.49% APR for loans above $5 million.<\/p>\n\n\n\n

Strike announced the first iteration of its lending proof-of-reserves, which gives borrowers the ability to verify that their collateral is present and segregated in a distinct on-chain address. <\/p>\n\n\n\n

“We want you to trust us and know that we are who we say we are,” Mallers said. The disclosure mechanism was developed in partnership with Tether, which Mallers<\/a> credited with helping Strike build the transparency infrastructure.<\/p>\n\n\n\n

The two companies also jointly developed what Mallers called “volatility-proof” bitcoin-backed loans, a structure that removes the risk of forced liquidation when bitcoin prices fall or broader markets drop. <\/p>\n\n\n\n

Mallers said the segregated collateral product is available now through Strike’s private client desk, and the volatility-proof loan feature is available to customers as part of the bitcoin-backed lending suite.<\/p>\n\n\n\n

Mallers announced that Strike has secured a $2.1 billion credit facility, which he said gives the company capacity to meet demand at any order size within its lending business.<\/p>\n\n\n\n

Merger proposal<\/h2>\n\n\n\n

Earlier Wednesday, Tether Investments published a proposal to merge Twenty-One Capital with Strike and Elektron Energy, a large-scale bitcoin mining operator that manages approximately 50 EH\/s, or roughly 5% of the current Bitcoin network hashrate. <\/p>\n\n\n\n

Tether said the combined entity would integrate bitcoin treasury holdings, mining, financial services, lending, and capital markets under a single listed platform.<\/p>\n\n\n\n

Mallers said he backs the plan. “Simply put, I think it’s a great idea,” he said, adding that building a Bitcoin company \u2014 not a narrow payments app \u2014 was his founding goal. Elektron founder Raphael Zagury has been proposed as President of the combined entity under the plan.<\/p>\n\n\n\n

The bitcoin company quadrant and Maller\u2019s vision<\/h2>\n\n\n\n

Mallers used a quadrant framework onstage to argue that the Bitcoin industry has a gap at the intersection of high conviction and high operating income. <\/p>\n\n\n\n

He placed crypto exchanges<\/a> in the high-income, low-conviction corner, saying they run profitable businesses but list many coins and build products across asset classes. He placed bitcoin treasury companies in the high-conviction, low-income corner, describing them as deeply committed to bitcoin but limited in operating business scope.\u00a0<\/p>\n\n\n\n

He cited Coinbase as an exchange that could carry more bitcoin on its balance sheet, and praised MicroStrategy executive chairman Michael Saylor while drawing a distinction between a treasury strategy and a product strategy. “I love him and his company,” Mallers said of Saylor, “but I want to build bitcoin products.”<\/p>\n\n\n\n

His answer to the gap was a four-pillar model: a financial services arm covering brokerage, custody, lending, payments, treasury, and prime services; bitcoin infrastructure spanning energy, power generation, mining, hardware, and hosting; a capital markets operation built around loan-book securitization, mining revenue securitization, bitcoin-backed debt, and structured products; and a mergers-and-acquisitions function targeting profitable bitcoin businesses across software, custody, payments, energy, and distribution. <\/p>\n\n\n\n

The stated goal of the M&A arm, as presented on his slide, is to give “every dollar of operating income one job: buy more Bitcoin.”<\/p>\n\n\n\n

Mallers closed by saying a platform of that scope could “change the world with its products” and cited a phrase he has used throughout his career: “Fix the money, fix the world.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Strike CEO Jack Mallers announced a series of product updates and strategic moves at the Bitcoin 2026 Conference.<\/p>\n","protected":false},"author":3817,"featured_media":52010,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4378],"tags":[531,1963,532,811],"class_list":{"0":"post-52009","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-jack-mallers","9":"tag-mallers","10":"tag-strike","11":"tag-tether"},"author_data":{"id":3817,"name":"Micah Zimmerman","nicename":"micahzimmerman","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/11\/Micah_Zimmerman_Author_Image.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/04\/IMG_5398-scaled.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/52009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3817"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=52009"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/52009\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/52010"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=52009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=52009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=52009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}