Strike CEO Jack Mallers announced a series of product updates and strategic moves at the Bitcoin 2026 Conference. 1 billion credit facility. He also said he supports a proposal by Tether Investments to merge Strike with Twenty-One Capital and bitcoin miner Elektron Energy.
Mallers said Strike’s bitcoin-backed loan and line-of-credit business has grown since launch, with users drawn to the ability to borrow against bitcoin rather than sell it. He described bitcoin as a savings account for many customers and said Strike cut its rate tiers across the board. 49% APR for loans above $5 million.
Strike announced the first iteration of its lending proof-of-reserves, which gives borrowers the ability to verify that their collateral is present and segregated in a distinct on-chain address. “We want you to trust us and know that we are who we say we are,” Mallers said. The disclosure mechanism was developed in partnership with Tether, which Mallers credited with helping Strike build the transparency infrastructure.
The two companies also jointly developed what Mallers called “volatility-proof” bitcoin-backed loans, a structure that removes the risk of forced liquidation when bitcoin prices fall or broader markets drop. Mallers said the segregated collateral product is available now through Strike’s private client desk, and the volatility-proof loan feature is available to customers as part of the bitcoin-backed lending suite. 1 billion credit facility, which he said gives the company capacity to meet demand at any order size within its lending business.
Earlier Wednesday, Tether Investments published a proposal to merge Twenty-One Capital with Strike and Elektron Energy, a large-scale bitcoin mining operator that manages approximately 50 EH/s, or roughly 5% of the current Bitcoin network hashrate. Tether said the combined entity would integrate bitcoin treasury holdings, mining, financial services, lending, and capital markets under a single listed platform. Mallers said he backs the plan.
“Simply put, I think it’s a great idea,” he said, adding that building a Bitcoin company — not a narrow payments app — was his founding goal. Elektron founder Raphael Zagury has been proposed as President of the combined entity under the plan. Mallers used a quadrant framework onstage to argue that the Bitcoin industry has a gap at the intersection of high conviction and high operating income.
He placed crypto exchanges in the high-income, low-conviction corner, saying they run profitable businesses but list many coins and build products across asset classes. He placed bitcoin treasury companies in the high-conviction, low-income corner, describing them as deeply committed to bitcoin but limited in operating business scope. He cited Coinbase as an exchange that could carry more bitcoin on its balance sheet, and praised MicroStrategy executive chairman Michael Saylor while drawing a distinction between a treasury strategy and a product strategy.
” His answer to the gap was a four-pillar model: a financial services arm covering brokerage, custody, lending, payments, treasury, and prime services; bitcoin infrastructure spanning energy, power generation, mining, hardware, and hosting; a capital markets operation built around loan-book securitization, mining revenue securitization, bitcoin-backed debt, and structured products; and a mergers-and-acquisitions function targeting profitable bitcoin businesses across software, custody, payments, energy, and distribution.
