EddieJayonCrypto
7 May 25
Strike's CEO Jack Mallers announced that Bitcoin-backed loans are now available to customers in 26 U.S. states, with loan amounts ranging from $75,000 to $100,000 depending on the state. The service offers loans with at least 12% APR using Bitcoin as collateral, and larger loans over $2 million may ...
Strike has launched Bitcoin-backed loans for customers in 26 U.S. states, allowing access to cash without selling Bitcoin. Loan amounts start between $75,000 and $100,000 depending on the state, with an interest rate of at least 12% APR. Larger loans exceeding $2 million may be available after assessment. CEO Jack Mallers announced plans to expand this service internationally, including to Europe.Strike is a digital payments company enabling users to send, receive, and trade Bitcoin. Mallers also leads Twenty One, a Bitcoin treasury firm backed by major investors such as Tether, Bitfinex, Cantor Fitzgerald, and SoftBank. Previously, Strike partnered with El Salvador to support its Bitcoin adoption project.El Salvador made Bitcoin legal tender in 2021, becoming the first country to do so. However, the law was later reversed under IMF pressure tied to a $1.4 billion loan agreement. Despite this, President Nayib Bukele continues to purchase Bitcoin.Mallers emphasized that customers no longer need to sell their Bitcoin—the best-performing asset in human history—to access cash. Strike Lending allows holders to borrow fiat using Bitcoin as collateral, thus enabling them to build wealth on top of their cryptocurrency holdings without liquidating their positions.