Strike to Launch Bitcoin Lending Service in Select U.S. Regions
Jack Mallers' payments app Strike will enter the bitcoin (BTC) lending market.
- Strike aims to allow users to borrow fiat while holding bitcoin.
- The service will launch in select U.S. regions, with plans for international expansion.
- Mallers stated that holding bitcoin can offset borrowing costs if its value appreciates faster than debt interest.
- Previous bitcoin lenders like BlockFi, Celsius, and Genesis failed during the crypto winter starting in 2022.
- Coinbase's recent entry into bitcoin lending indicates potential growth in this sector following a market rally post-2024 U.S. elections.