Double Duty: Jack Mallers Navigates Two Bitcoin Ventures
Jack Mallers, the driving force behind Bitcoin payments platform Strike, has addressed concerns from investors following his appointment as CEO of Twenty One Capital, a newly launched Bitcoin treasury firm. Mallers, in a letter to Strike investors dated April 25, assured that his expanded role will not detract from his commitment to Strike, which he claims processed over $6 billion in volume in 2024.
“This is not a shift in my commitment; it’s an extension of it,” Mallers asserted, highlighting his unwavering dedication to the Bitcoin ecosystem. “Every business decision I make starts with one question: Is this good for Bitcoin? Twenty One exists because I believe it is good for Bitcoin and, therefore, good for the world.”
Distinct Goals, Shared Ethos
Mallers clarified that while Strike and Twenty One Capital operate independently, they share a common ethos: advancing the adoption and utility of Bitcoin. Strike aims to make Bitcoin accessible globally, providing a streamlined payments platform for individuals and businesses. In contrast, Twenty One focuses on increasing “Bitcoin ownership per share (BPS)” and developing Bitcoin-native financial tools, effectively challenging the strategy employed by Michael Saylor‘s MicroStrategy.
Strike‘s Success Story: 2024 Performance
Mallers’s letter shed light on Strike‘s remarkable performance in 2024. The platform recorded a staggering 600% year-over-year growth, maintaining an 85% gross profit margin, and reporting zero customer acquisition costs. Despite a team of only 75 employees, Strike is projected to generate an impressive 8-9 figures in net profit in 2025.
Speculation and Future Possibilities
The announcement of Mallers’s dual leadership roles sparked a flurry of speculation within the crypto community. Several industry participants publicly pondered the potential for Twenty One Capital to eventually acquire Strike, with Swan Bitcoin CEO Cory Klippsten suggesting that such an acquisition is “probably safe to assume.”
While neither Mallers nor Strike has indicated any plans for a merger or acquisition, the possibility remains an intriguing topic for discussion. The future trajectory of both ventures remains uncertain, but Mallers’s commitment to Bitcoin‘s success suggests that both Strike and Twenty One Capital are poised to play significant roles in the evolving landscape of the cryptocurrency ecosystem.
