Overview

Jack Mallers’ bitcoin payments app, Strike, is expanding into the BTC lending arena. This initiative aims to allow users to borrow fiat currency without selling their bitcoin holdings, as Mallers explained in a recent social media post.

Key Points:

• BTC Lending: Strike is set to offer a way for users to maintain their bitcoin investments while accessing cash loans.
• Market Potential: Following the resurgence of bitcoin pricing, lending offers from platforms like Coinbase suggest a revival in the sector after the market downturn experienced in 2022.

Quotes from Jack Mallers:

“You shouldn’t have to sell the best-performing asset in human history to access cash. Now you don’t have to.”

Availability: Initially, Strike Lending will be rolled out in selected regions of the U.S., with intentions for global expansion.

Insight:

Mallers also noted that borrowing costs could be outpaced by the appreciation of bitcoin, allowing users to benefit from holding BTC while servicing their loans. Other players in the market, such as BlockFi and Celsius, faced challenges during the crypto winter, but the current market dynamics suggest promising opportunities for bitcoin lending ventures.