Key Takeaways
- Jack Mallers suggests Strike and Tether could aim to buy 5% of Bitcoin.
- A 5% stake would equal about 1 million BTC at current supply levels.
- Neither company has confirmed details or a timeline for the acquisitions.
Strike founder Jack Mallers revealed a bold vision during a recent podcast appearance, suggesting that his firm, in collaboration with Tether, may seek to acquire as much as 5% of Bitcoin’s total supply — equivalent to nearly one million BTC.
Podcast insights
Mallers told Pete Rizzo on the Supply Shock podcast:
What I’ll tell listeners is, use your imagination. The business is founded by myself and Tether. And, you know, if we have 1, 2, 3, 4, 5% of the Bitcoin network…
Ambitious acquisition plan
While Mallers did not disclose an exact figure or confirm any purchases, his comments hint at a highly ambitious acquisition plan.
At current supply levels, a 5% stake would represent approximately 1 million BTC — worth over $100 billion at recent market prices.
Strategic alignment & broader goals
Mallers emphasized the strategic alignment and combined experience of Strike and Tether, suggesting the partnership has broader goals.
He said:
The Tether network, and a lot of experience and lessons that Strike and my life lived there… we think the combination of all it’s gonna be really interesting.
Mission-driven effort
He also touched on the mission-driven aspect of the effort, noting:
There’s a lot of good we can do for the world.
Current status of the proposal
Neither company has released further details or confirmed the timeline or feasibility of acquiring such a large portion of the network. As of now, the proposal remains aspirational.
