Strike

<a href="https://crypto.news/tag/strike/">Strike </a>CEO Jack Mallers, an ardent Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) advocate, has announced his move away from fiat currency, opting to go all-in with Bitcoin. 
In a Jan. 3 X post, Bitcoin enthusiast and visionary Jack Mallers announced his complete divestment from the US dollar, stating, “I no longer own any US dollars. Not even a penny.” 
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 I no longer own any US dollars. Not even a penny. As an American millennial, I love our country but I oppose our money. I'm all in on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a>. Setting my sails toward prosperity or going down with the ship. I believe it's important to take a stance now more than ever 🫡 <a href="https://t.co/XhWPfQzG3d" target="_blank">pic.twitter.com/XhWPfQzG3d</a>— Jack Mallers (@jackmallers) <a href="https://twitter.com/jackmallers/status/1742313114362589634?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 2, 2024</a>
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Mallers’ decision comes amid his concerns about the state of the US economy and the devaluation of its currency. He expressed his love for America but criticized the nation’s monetary policies, particularly since the abandonment of the gold standard in 1971. 
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According to Mallers, the country has faced hyper-financialization and <a href="https://crypto.news/the-federal-reserves-tussle-with-inflation-and-its-effects-on-crypto/">hyper-asset inflation</a> since then, which has widened the wealth gap and created societal discontent. 
He argues that as the dollar devalues, individuals are compelled to invest in wealth assets like real estate and stocks, escalating their prices and exacerbating the wealth disparity. 
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 Home value vs income change | Source: <a href="https://twitter.com/jackmallers/status/1742313119974555889/photo/1" target="_blank" rel="noopener">X/@jackmallers</a>
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Mallers added, “printing money makes those who own assets richer and those who can’t afford them poorer.” 
In his post, Mallers highlighted that Bitcoin, with its fixed supply and decentralized nature, represents the best counter to fiat debasement. He views Bitcoin as embodying American values such as personal freedom, equal opportunity, and innovation. 
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 “Bitcoin is the money for the land of liberty, opportunity, democracy, rights, and equality.” <cite>Jack Mallers, CEO of Strike</cite>
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Mallers’ stance raises questions about practical financial transactions, such as paying bills and taxes, given the limited acceptance of Bitcoin for everyday use. 
BTC is still a store of value and a vehicle for speculation. Despite its growth, there are still very few places on the planet where you can use it to pay for things. 
<h2 class="wp-block-heading" id="mallers-thinks-btc-will-hit-1-million">Mallers thinks BTC will hit $1 million</h2> 
In March 2023, during an appearance on CNBC’s Power Lunch, Mallers <a href="https://crypto.news/strike-ceo-jack-mallers-thinks-btc-will-hit-1m/">emphasized </a>Bitcoin’s role in the global financial crisis and predicted its price soaring to <a href="https://crypto.news/bitcoin-will-hit-1-million-by-2030-says-ark-invest/">$1 million</a> due to worldwide hyperinflation. 
He criticized the Federal Reserve for compromising its reputation by excessive money printing and asserted that Bitcoin’s fixed supply of 21 million units bolsters its value. 
Mallers also commented on other cryptocurrencies, acknowledging their speculative nature and viewing them as a means to accumulate more Bitcoin. 
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 “The game’s objective is to amass the most amount of bitcoin feasible. Alternatives are intriguing, but they involve a great deal more risk. I used them to build up my Bitcoin holdings.” <cite>Jack Mallers, CEO of Strike</cite>
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As the US national debt hits a record <a href="https://www.usdebtclock.org/" target="_blank" rel="noopener">$34 trillion</a>, double what it was a decade ago, Mallers’ decision and viewpoints resonate with a growing group of individuals and investors looking towards cryptocurrency as a potential <a href="https://crypto.news/bitcoins-role-as-a-crisis-hedge-and-the-implications-for-the-usd/">hedge against traditional economic instability</a>. 
 Read more: <a href="https://crypto.news/moodys-us-credit-outlook-negative-bitcoin-benefits/"> Moody’s gives US negative credit-rating, that’s good for Bitcoin </a>

Strike CEO Jack Mallers goes all-in on Bitcoin, ditches US dollar

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