Strike CEO Jack Mallers Reports 600% Growth, Reassures Investors on Dual Role

Strike CEO Jack Mallers has reassured investors that his new role as CEO of Bitcoin treasury firm Twenty One Capital will not distract from his responsibilities at Strike. In a letter to Strike investors on April 25, Mallers clarified that his new position is an extension of his commitment to Bitcoin and its ecosystem, rather than a shift in focus. He emphasized that Strike and Twenty One Capital have different objectives but share the same ethos: the belief that Bitcoin's success is beneficial for humanity.

Strike, a Bitcoin payments platform, aims to make Bitcoin accessible globally, while Twenty One Capital focuses on increasing Bitcoin ownership per share and developing Bitcoin-native financial tools. Mallers revealed key metrics for Strike, including processing over $6 billion in volume in 2024, achieving 600% year-on-year growth, maintaining an 85% gross profit margin, and reporting zero customer acquisition costs. He also noted that Strike, with a team of 75 employees, expects to generate 8-9 figures in net profit by 2025.

Mallers' dual role has sparked curiosity and speculation within the crypto community. Some enthusiasts have questioned the logistics of managing both companies, while others have speculated about the future of Strike under Mallers' leadership. Crypto commentator "Alex" and Domingo Guerra expressed concerns about the fate of Strike, with Guerra asking who would be running the company. Swan Bitcoin CEO Cory Klippsten and Daniel Sempere Pico have publicly speculated that Twenty One Capital may acquire Strike in the future. However, neither Mallers nor Strike has indicated any intention of such an acquisition.

Mallers' commitment to both Strike and Twenty One Capital reflects his belief that Bitcoin's success is beneficial for humanity. He stated, "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." This philosophy drives his efforts to make Bitcoin more accessible and to develop innovative financial tools that leverage Bitcoin's potential.

Mallers' reassurance comes after Twenty One Capital's launch on April 23, backed by prominent investors including Tether, SoftBank, and Cantor Fitzgerald. The firm aims to challenge Michael Saylor’s strategy by becoming a superior vehicle for investors seeking capital-efficient Bitcoin exposure, starting with 42,000 Bitcoin. Mallers' leadership in both companies underscores his dedication to advancing Bitcoin's adoption and utility, ensuring that his new role will not compromise his commitment to Strike's mission.