Jack Mallers introduced a new lending system at the 2025 Bitcoin Conference
At the 2025 Bitcoin Conference in Las Vegas, Strike founder and CEO Jack Mallers announced a new system of bitcoin-backed loans through Strike. The key details were immediately attention-grabbing: the product is expected to offer interest rates of 9% to 13%, while the loan size can range from $10,000 all the way to $1 billion.
Mallers presented the launch as more than just another financial product. He framed it as a response to a much larger monetary problem. In his telling, the real issue people face is not Bitcoin’s viability, but the long-term weakness of fiat currencies and the way they steadily dilute purchasing power. From that perspective, a bitcoin-backed loan becomes a tool that allows holders to access liquidity without having to sell their BTC.
His core argument: fiat is the problem, Bitcoin is the solution
Mallers opened his keynote by pointing to what he described as the biggest problem of all: fiat currency. To make the point vivid, he used a memorable line about consumer purchasing power: “The best time to go to Whole Foods and buy eggs with your dollars was 1913. Every other time after, you are getting screwed.” The message was clear. In his view, fiat money loses value over time, and ordinary savers bear the cost.
He then offered what he sees as the alternative: Bitcoin. Mallers described Bitcoin as money that nobody can print. In his framing, it is a monetary system designed to prevent the debasement of a person’s time, labor, and stored value. He linked Bitcoin not only to price appreciation or speculation, but to broader ideas of personal sovereignty, asset protection, debt reduction, and safeguarding one’s family and future.
Mallers also gave the audience a strong behavioral message. He argued that people should HODL every dollar they can in Bitcoin. At the same time, he did not turn that into an absolutist rule. He added that people should also spend a little of it to enjoy life. His phrasing was direct and simple: “You can’t HODL forever.” That line captured a balance between conviction and practicality, suggesting that holding Bitcoin and actually living well do not have to be contradictory goals.
Why he believes 20% rates on Bitcoin-backed loans are unreasonable
When discussing the broader lending market, Mallers criticized what he sees as excessive pricing on loans collateralized by Bitcoin. Specifically, he said that banks charging 20% interest for Bitcoin-backed loans is outrageous. His argument is that such pricing reflects outdated assumptions about Bitcoin’s risk rather than a fair assessment of the collateral.
He pushed back directly against the standard criticism that Bitcoin is simply too risky and too volatile. Referring to comparisons with the so-called Magnificent 7, Mallers said Bitcoin’s one-year volatility is not dramatically outside the range investors already tolerate in major public equities. According to his remarks, Bitcoin is only a little more volatile than Apple, while being far less volatile than Tesla.
Mallers also argued that Bitcoin’s volatility has been declining as the asset matures. In his view, the market is now at a point where Bitcoin is no more risky than Tesla stock in practical terms. If that is true, he said, borrowers should not still be paying punitive double-digit rates just because the collateral is Bitcoin. This argument formed the basis for Strike’s new product positioning: bring borrowing costs down to a range he considers more rational, namely 9% to 13%.
Strike’s loan structure, target range, and his warning about debt
Based on the information shared on stage, Strike’s new system is notable for both price and scale. The interest rate range of 9% to 13% is meant to stand apart from much higher offers seen elsewhere, while the loan band of $10,000 to $1 billion suggests the product is intended to serve more than just small retail borrowers. The upper end implies potential relevance for high-net-worth clients, businesses, and other large capital users as well.
The appeal of a bitcoin-backed loan is straightforward. A holder who believes in Bitcoin’s long-term upside may not want to sell BTC to fund expenses, investments, or lifestyle needs. By borrowing against Bitcoin instead, that holder can potentially preserve market exposure while accessing cash liquidity. That logic aligns closely with Mallers’ broader message about holding Bitcoin as a long-term monetary asset rather than spending or liquidating it too easily.
Still, Mallers did not portray borrowing as a free lunch. He closed with a clear caution: “please be responsible. This is debt.” He compared debt to fire. Used wisely, it can heat a civilization and warm a home. Used recklessly, it can burn the house down. The analogy underscored an important point for Bitcoin holders and borrowers alike: leverage may improve capital efficiency, but it also introduces real repayment obligations and risk.
- Presenter: Jack Mallers, Founder and CEO of Strike
- Event: 2025 Bitcoin Conference, Las Vegas
- Product type: Bitcoin-backed loans
- Interest rate: 9% to 13%
- Loan size: $10,000 to $1 billion
- Rate level he criticized in the market: 20%
He ended on a personal note as well. “Life is short,” Mallers said. “Take the trip, but with bitcoin you just get to take a better one.” That closing line tied together the practical and ideological themes of the speech: own hard money, preserve your upside, use capital thoughtfully, and do not forget that financial tools are ultimately meant to support a better life.