Strike has launched a new Bitcoin-backed loan product designed to eliminate margin calls and forced liquidations, even during significant price drops. However, it comes with a high 14% interest rate and requires timely payments to avoid liquidation.
Strike CEO Jack Mallers argued that if Wall Street “kills” Bitcoin, then the asset was never going to succeed in the first place.
Tether, majority shareholder of Twenty One Capital, proposed a three-way merger with Bitcoin payments company Strike and Bitcoin mining firm Elektron Energy. Shares of Twenty One Capital jumped 6.6% in after-hours trading to $8.35, after closing down 1.7% at $7.83. The combined company would integrate Strike's financial services platform with Elektron's mining infrastructure. Twenty One Capital holds 43,514 Bitcoin, second only to Strategy Inc. which holds 818,334 BTC.
