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Strike Launches Dollar-Cost Averaging Product in US
The payment app’s users can purchase bitcoin hourly or monthly for as little as 50 cents.
Updated May 11, 2023, 7:02 p.m. Published Dec 9, 2021, 8:51 p.m.
Crypto-friendly payments company Strike has launched a dollar-cost averaging (DCA) product in the U.S., the company announced Thursday.
- Users, except for those in Hawaii and New York, can create recurring bitcoin purchases for as little as 50 cents, with no fees. This can be done on a monthly, weekly, daily and hourly basis.
- “Recurring purchases allow our users to deploy one of the most reliable and performant investing strategies for the world’s best performing asset,” Strike founder and CEO Jack Mallers said in a statement.
- The initiative comes roughly seven weeks after Strike began letting its U.S. users instantly convert all or a portion of their paychecks into bitcoin.
- Earlier this year, Mallers played a significant role in helping El Salvador adopt bitcoin as a legal tender.
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Tensions over El Salvador's bitcoin holdings ease as IMF praises economic progress
The Central American country’s economy is projected to grow 4% this year, the IMF said.
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- The IMF praised El Salvador's stronger-than-expected economic growth and progress in bitcoin-related discussions.
- El Salvador's real GDP growth is projected to reach around 4%, with a positive outlook for 2026.
- Despite previous IMF recommendations, El Salvador continues to increase its bitcoin holdings, adding over 1,000 BTC during November's market downturn.
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