Strike, a major Bitcoin payments service, has introduced a new loan product for eligible U.S. customers, allowing them to use Bitcoin (BTC) as collateral. The offering provides 12-month loans starting at $75,000 and capped at $2 million, available across 26 U.S. states, with plans to expand internationally, including into Europe.
Strike CEO Jack Mallers announced the product via a video, emphasizing that users no longer need to sell their Bitcoin to access cash. The loans carry an annual percentage rate of at least 12%. Individuals and businesses seeking even larger loans may be eligible through further assessment.
Strike enables users to buy, sell, and trade Bitcoin, and was previously a key partner in El Salvador's Bitcoin infrastructure rollout. The initiative allows customers to leverage their digital asset holdings without liquidating them, promoting long-term holding strategies. It also signals broader adoption and institutionalization of Bitcoin-backed financial products in the U.S. market.