Jack Mallers Reaffirms Focus on Strike Despite New CEO Role at Twenty One Capital

Jack Mallers, founder and CEO of Bitcoin payments platform Strike, is doubling down on his commitment to Bitcoin — and to Strike — even as he takes on the CEO position at a new venture, Bitcoin treasury firm Twenty One Capital. In a letter to Strike investors dated April 25, Mallers clarified his dual leadership roles, emphasizing that his involvement with Twenty One is not a departure from Strike but rather an extension of his broader vision for Bitcoin’s future.

“This is not a shift in my commitment; it’s an extension of it,” Mallers wrote. “If Bitcoin wins, humanity wins. Every business decision I make starts with one question: Is this good for Bitcoin?”

Two Companies, One Mission: Bitcoin First

Mallers described Strike and Twenty One Capital as two separate entities with aligned philosophies but distinct objectives. Strike, which has built a reputation as a Bitcoin-native payments infrastructure provider, focuses on making Bitcoin accessible on a global scale. The company has been instrumental in expanding Bitcoin’s use for remittances, point-of-sale payments, and online commerce, particularly in underserved markets.

On the other hand, Twenty One Capital is designed to serve institutional investors and act as a next-generation Bitcoin treasury platform. According to Mallers, the firm’s mission is to increase Bitcoin ownership per share (BPS) and develop innovative Bitcoin-native financial tools — a strategy aimed at challenging legacy investment vehicles like MicroStrategy.

“These are separate companies, but they share the same ethos,” Mallers said. “Bitcoin wins, we win.”

Twenty One Capital officially launched on April 23, backed by heavyweight investors including Tether, SoftBank, and Cantor Fitzgerald. The firm revealed plans to hold an initial 42,000 BTC, making it an immediate contender in the space of large-scale Bitcoin treasuries. Its goal is to offer a more capital-efficient and Bitcoin-native alternative to MicroStrategy, which currently holds over 200,000 BTC.

Strike’s Explosive Growth and Bold Projections

In the same investor letter, Mallers unveiled key Strike metrics for the first time publicly. He reported that Strike processed more than $6 billion in transaction volume in 2024, reflecting a 600% year-over-year growth rate. Additionally, the company maintained an 85% gross profit margin while acquiring customers with zero acquisition costs — a rare feat in the fintech and crypto sectors.

Mallers attributed this success to the platform’s lean and focused team of 75 employees, and expressed confidence in Strike’s profitability prospects. “We expect to generate 8–9 figures in net profit in 2025,” he wrote.

These figures paint a picture of a fast-scaling, highly efficient operation that has rapidly established itself as a dominant player in the Bitcoin payments ecosystem.

Community Reaction: Support, Questions, and Speculation

Mallers’ announcement drew a mix of admiration, curiosity, and skepticism from the crypto community. Several commentators took to social media to question how Mallers would balance his dual CEO roles. One crypto influencer, Alex, asked on X: “What will be the fate of Strike? New incoming CEO? Or will he pull an Elon Musk?” Others raised logistical concerns about bandwidth and leadership focus.

Adding to the speculation, Swan Bitcoin CEO Cory Klippsten suggested that Twenty One Capital might eventually acquire Strike, calling it “probably safe to assume.” Similarly, Bitcoin strategist Daniel Sempere Pico tweeted, “How long before Twenty One acquires Strike?”

However, Mallers made no indication that such a merger or acquisition is in the works. On the contrary, he emphasized the independence and differing objectives of the two firms.

Looking Ahead: A Bitcoin-Centric Vision

Mallers’ dual leadership roles may be unorthodox, but they’re deeply rooted in his Bitcoin-centric worldview. Whether it’s Strike’s mission to expand global Bitcoin access or Twenty One’s goal of creating Bitcoin-native investment tools, Mallers is betting on one thing: that Bitcoin adoption — and value — will continue to grow.

By maintaining leadership in both firms, he’s signaling that he doesn’t see a trade-off, but rather a convergence. For Mallers, the success of Strike and Twenty One Capital isn’t a zero-sum game — it’s a coordinated push to move Bitcoin deeper into the global financial system.