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- 1 Jack Mallers created a Bitcoin payment application (App) that makes payments over the Lightning Network.
- 2 Mallers keeps himself active in all of his social media accounts while also sharing his knowledge in many news interviews.
Jack Mallers is one of the youngest Bitcoin (BTC) entrepreneurs who founded Strike, a Bitcoin payment app, which was rebranded in January 2020. He is quite active in almost all of his social media platforms, including Twitter and YouTube.
According to a latest media report, his early Bitcoin investments at present are valued at $300 Million. This further includes his stake in Strike, which eventually contributes to his estimated net worth of $50 Million.
Mallers works towards the understanding and adoption of Bitcoin, thereby, showing his positive approach for the most-traded cryptocurrency by market cap, Bitcoin.
Having an optimistic vision on the long-term potential of Bitcoin, one of Mallers’ plans was taking the lead in helping solve El Salvador’s remittance problems. He was instrumental in fastening his founded Bitcoin payment app as the “de facto payment solution” in the country.
It must be noted El Salvador’s more than two-thirds of the population had no bank account, thus Mallers believed Strike would be able to challenge two well-known credit card firms, Visa and Mastercard soon.
Jack Mallers and his Bitcoin Payment App
Strike, which was founded by Jack Mallers, uses lightning layer 2 networks. The Bitcoin payment app aims to speed-up and simplify Bitcoin transactions along with facilitating cheaper transfers. In the latest Series B funding round, in September 2022, Strike has added $80 Million that lifts its valuation to nearly $300 Million.
By using Strike, the users could use the Lightning Network by paying in fiat currency only. The Bitcoin payment app lowers the entry barrier to access Bitcoin as an alternative payment network. Mallers’ founded Bitcoin payment app also ensures that investors do not have to deal with crypto volatility or taxes. Hence, Strike establishes it as a fast, no-fee cross-border payment solution.
As a software engineer, Mallers developed Strike, representing a key aspect of his financial growth. It must be noted Mallers is the CEO of Zap, a Bitcoin tech-focused company. Zap was founded in the summer of 2017 and was previously known for its work on a Lightning Network wallet, which boosts Bitcoin transactions. It must be noted Zap is the parent company of Strike.
The Upcoming Plans of Mallers
The young Bitcoin entrepreneur estimates that almost half of the U.S. businesses could come on-board with his founded Bitcoin payment app by the end of this year. This shows his bullish prospect towards his company’s potential to disrupt the payments industry.
Even after the recent crypto winter, Jack Mallers stays positive for the crypto world to only trend higher in the upcoming years. However, the network demand will also increase along with mass adoption. As for his future expansion plans, Mallers wants to expand the retail footprint of Strike. It is aiming to forge partnerships with payment firms like Block and even PayPal soon this year.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
