Strike Locks ₱129.54 billion ($2.1 billion) Credit Line for Volatility-Proof Bitcoin Loans

Strike secured a ₱129.54 billion ($2.1 billion) credit facility to fuel its bitcoin-backed lending platform, CEO Jack Mallers announced at the Bitcoin 2026 Conference on April 29.

The new financing lets Strike offer volatility-proof loans that remove forced liquidation risk during bitcoin price drops. Mallers said the company built lending proof-of-reserves with Tether, allowing borrowers to verify their collateral sits in segregated on-chain addresses. Strike cut rates across all loan tiers: loans under ₱15,420,905 ($250,000) now carry 10.5% APR, while loans above ₱308.42 million ($5 million) drop to 7.49% APR.

Mallers backed a merger proposal published by Tether Investments on Wednesday that would combine Strike with Twenty-One Capital and Elektron Energy under a single listed entity. Elektron operates 50 EH/s of bitcoin mining capacity — roughly 5% of the current network hashrate — with founder Raphael Zagury proposed as president of the merged company. Mallers called the merger "a great idea" and laid out a four-pillar vision spanning financial services, bitcoin infrastructure, capital markets, and M&A targeting profitable bitcoin businesses.

Mallers positioned the merger as filling a market gap between high-profit exchanges that spread focus across multiple chains and bitcoin-focused treasury companies with limited operating income. He praised MicroStrategy executive chairman Michael Saylor but drew a line between treasury strategy and product strategy. Mallers said he wants to "build bitcoin products" and "change the world" through Strike's platform rather than just accumulate bitcoin on the balance sheet.

The merged entity would target profitable bitcoin companies across software, custody, payments, energy, and distribution, with the goal of giving "every dollar of operating income one job: buy more Bitcoin" under founder Raphael Zagury's leadership.