$BTC Strike Launches Bitcoin-Backed Loans, Allowing Users to Borrow Against Their Bitcoin Holdings

Strike CEO Jack Mallers announced the launch of bitcoin-backed loans, allowing eligible customers to borrow against their bitcoin holdings without the need to sell.

This new feature enables users to access cash using their bitcoin as collateral, with loan amounts ranging from $75,000 to $2 million at a starting annual percentage rate (APR) of 12% and no origination fees.

The loans are designed for various purposes, such as purchasing a home or investing in a business, and are available in select U.S. states. Mallers emphasized that this service provides a flexible borrowing option while allowing customers to retain their bitcoin investments, thereby avoiding potential taxable events associated with selling.

The bitcoin-backed loans are now live for eligible customers, marking a significant addition to Strike’s financial offerings.

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