Strike CEO Jack Mallers said his new role as CEO of Bitcoin treasury firm Twenty One Capital won’t distract him from heading Strike, revealing the platform processed over $6 billion in volume in 2024.
“This is not a shift in my commitment; it’s an extension of it,” Mallers said in an April 25 letter to Strike investors.
Every decision based on if it is “good for Bitcoin”
“If Bitcoin wins, humanity wins. 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,” Mallers said.
Mallers explained that Strike, a Bitcoin payments platform, and Twenty One Capital have different goals. He said Strike focuses on making “Bitcoin accessible globally,” while Twenty One aims to increase “Bitcoin ownership per share (BPS) and pioneer Bitcoin-native financial tools.”
“These are separate companies, but they share the same ethos: Bitcoin wins, we win,” he said.
It comes after Twenty One Capital announced its launch on April 23, with the backing of Tether, SoftBank and Cantor Fitzgerald.
The firm is looking to challenge Michael Saylor’s Strategy to become the “superior vehicle for investors seeking capital-efficient Bitcoin exposure.” It revealed its plans to launch with 42,000 Bitcoin (BTC).
Mallers shared key metrics for Strike publicly for the first time, revealing that in 2024, the firm posted over $6 billion in volume, recorded 600% year-on-year growth, maintained an 85% gross profit margin, and reported zero customer acquisition costs.
Mallers said that despite maintaining a team of 75 employees, the company expects to “generate 8-9 figures in net profit in 2025.”
Several crypto enthusiasts had taken to social media to ask how the logistics would work for Mallers, being the CEO of Strike and Twenty One Capital.
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Crypto commentator “Alex” asked in an April 25 X post, “What will be the fate of Strike? New incoming CEO? Or will he pull an Elon Musk?” Similarly, Domingo Guerra asked, “Who will be running Strike!?”
Meanwhile, several crypto industry participants have publicly speculated that Twenty One Capital may acquire Strike in the future. Swan Bitcoin CEO Cory Klippsten said it is “probably safe to assume that this company will acquire strike.”
Daniel Sempere Pico said, “How long before Twenty One acquires Strike?” However, neither Mallers or Strike has indicated any intention of doing so.
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