Have Bitcoin? Need Cash? Strike Launches New Product Allowing Users To Borrow Up To $2 Million
Posted On May 7, 2025
The thought of selling Bitcoin (CRYPTO: BTC) makes you feel squeamish? Strike, a cryptocurrency payments firm, has launched a new lending product that allows users to take out loans using the world’s largest cryptocurrency as collateral.
What Happened: The firm’s CEO, Jack Mallers, took to X, explaining how the new offering would work.
Like other credit-financing mechanisms, Bitcoin-backed loans involve temporarily pledging held BTC as secure collateral and receiving a cash loan, to be repaid with interest. The larger the loan, the more collateral is required.
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