Bitcoin Lightning Network payment platform Strike’s CEO and co-founder, Jack Mallers, made a major declaration today, stating that he no longer holds any US dollars and will coexist with Bitcoin. He criticized the US dollar for burdening the millennial generation with debt and expressed his support for Bitcoin as a peaceful protest.
Strike, which continues to promote the adoption of Bitcoin payments worldwide, completed a $80 million Series B financing in 2023. Last month, the company announced the support for global users to purchase Bitcoin using a “sign-and-bank card” within its app. This feature is now officially available in 36 countries/regions outside of the United States, including Taiwan.
To demonstrate his support for Bitcoin, Jack Mallers announced today that he no longer holds any US dollars, not even a penny. As a millennial in the United States, he loves his country but opposes its currency. He fully supports Bitcoin and believes that it will either prosper together or sink together.
Jack Mallers further criticized the US dollar, pointing out its numerous flaws. Since the US abandoned the gold standard in 1971 and became the issuing country of the world’s reserve currency, printing money has led to hyper-financialization and superinflation of assets, which has caused dissatisfaction among the public. Printing money has made the asset holders wealthier while making those who cannot afford assets poorer.
As of 2021, the top 10% of the population owns 70% of the total net assets in the United States. Jack Mallers criticized that the US dollar is dividing the people. The United States also faces issues such as gun violence, drug abuse, and mental health problems. As a millennial, his earliest memories of the United States are the 9/11 attacks and the Iraq War. He has witnessed continuous wars, debts, pressures, and internal turmoil.
Jack Mallers praised Bitcoin as the best reflection of the devaluation of fiat currency. Bitcoin has a fixed supply and uses open-source software and a distributed network, which prevents inflation. At the same time, Bitcoin is an energy currency that requires energy consumption to obtain, thus establishing its unique storage capability.
Furthermore, Jack believes that Bitcoin also symbolizes American values, representing personal freedom, equal opportunities, free market economy, innovation, and progress. It is the currency of a land of freedom, opportunities, democracy, rights, and equality.
Finally, Jack stated that supporting Bitcoin is a peaceful protest without weapons, angry mobs, or violence.
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Related reports:
– E-commerce giant Shopify allows merchants to accept “Bitcoin Lightning Network Payments” through cooperation with Strike.
– Strike releases “Salary: BTC Direct Conversion” feature, stating that the US dollar’s inflation is devouring hard-earned money.
– Wall Street contra-indicator Jim Cramer: Bitcoin is a technological miracle that cannot be destroyed. Is BTC about to collapse?