Jack Mallers’ bitcoin (BTC) payments app Strike is set to move into the BTC lending business.
Strike plans to offer users a means of borrowing fiat while continuing to HODL bitcoin, Mallers wrote in a post on X on Wednesday.
“You shouldn’t have to sell the best-performing asset in human history to access cash. Now you don’t have to,” he wrote.
Strike Lending will initially be available in select regions of the U.S. with plans for international expansion.
“If bitcoin continues to grow faster than your borrowing costs, your asset appreciates faster than your debt. In other words, the gains from holding bitcoin can more than offset the interest on your loan,” Mallers said.
A number of bitcoin lenders were casualties of the crypto winter that kicked off in 2022. BlockFi, Celsius and Genesis all capitulated during that period.
The entry into this sector of cryptocurrency A-listers like Coinbase suggest bitcoin lending is prime for a resurgence after the rally that followed the election of U.S. President Donald Trump in November.
Read More: Coinbase Targeting 4%-8% Returns With New Bitcoin Yield Fund
News source: Bitcoin Payments App Strike to Offer BTC Lending in Boost to Reemergent Sector
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