BTC235: Jack Mallers on XXI (21) and Strike Borrowing and Lending (Bitcoin Podcast)

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 21 May 2025

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Explore the launch of Twenty One Capital, its strategic ties with Tether, SoftBank, and Cantor Fitzgerald, and how it compares to MicroStrategy or ETFs. Plus, Strike’s bold leap into secure Bitcoin lending. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 15:29 - How Twenty One Capital was formed and why now is the right time for a Bitcoin-native public company 17:16 - What SoftBank contributes beyond funding, including possible global Bitcoin adoption strategies 19:05 - How Twenty One differentiates itself from MicroStrategy and ETFs as a Bitcoin investment vehicle 19:55 - Why “Bitcoin Per Share” is used to track performance instead of traditional fiat metrics 27:31 - The ownership structure and governance dynamics between Tether, SoftBank, and other stakeholders 28:45 - Whether and how Strike and Twenty One will collaborate, and how CEO responsibilities are managed 31:26 - How the company navigates U.S. regulatory challenges, especially with Tether’s involvement 33:07 - The roadmap for Twenty One’s operational revenue beyond holding BTC 35:02 - The thinking behind Strike’s conservative Bitcoin-backed loans and their structure 35:40 - Lessons from the collapse of other crypto lenders and how Strike avoids similar risks 42:06 - The future of interest rates, accessibility, and transparency in Strike’s lending products 49:28 - Strike’s evolving role as a Bitcoin-native financial services platform – or neobank 51:54 - How both companies aim to promote financial sovereignty while balancing ease of use 57:05 - The biggest challenges on the horizon, from regulation to competition, and how they’ll be tackled Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Jack’s X Account. Learn more about Jack’s company: Strike. Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠. Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠. NEW TO THE SHOW? Join the exclusive ⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Follow our official social media accounts: ⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠ | ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ | | ⁠⁠⁠⁠Instagram⁠⁠⁠⁠ | ⁠⁠⁠⁠Facebook⁠⁠⁠⁠ | ⁠⁠⁠⁠TikTok⁠⁠⁠⁠. Check out our ⁠⁠⁠⁠Bitcoin Fundamentals Starter Packs⁠⁠⁠⁠. Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠here⁠⁠⁠⁠. Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠TIP Finance Tool⁠⁠⁠⁠. Enjoy exclusive perks from our ⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠. Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠. Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠. SPONSORS Support our free podcast by supporting our ⁠⁠⁠⁠sponsors⁠⁠⁠⁠: ⁠SimpleMining⁠ ⁠Hardblock⁠ ⁠AnchorWatch⁠ ⁠Fundrise⁠ ⁠DeleteMe⁠ ⁠CFI Education⁠ ⁠Vanta⁠ ⁠The Bitcoin Way⁠ ⁠Onramp⁠ ⁠Indeed⁠ ⁠Shopify⁠ HELP US OUT! Help us reach new listeners by leaving us a ⁠⁠⁠⁠rating and review⁠⁠⁠⁠ on ⁠⁠⁠⁠Spotify⁠⁠⁠⁠! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://premium.theinvestorspodcast.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

Click on a timestamp to play from that location

0:00.0	You're listening to TIP.
0:02.8	Hey everyone, welcome to this Wednesday's release of the Bitcoin Fundamentals podcast.
0:06.9	On this week's show, I have one of the most exciting and influential bitcoiner's in the space with Jack Mallors.
0:12.5	Recently, Mahler's announced a new company called 21, which he plans on taking into the public markets via SPAC, which is going to be seeded with 42,000 Bitcoin, which is worth
0:22.4	about $4.4 billion today, and he plans on running the same playbook as micro strategy.
0:28.7	And if that wasn't enough, his other company, Strike, has recently announced that they are
0:32.5	going to be offering borrowing and lending on their platform. So to put it simply, there's a lot
0:37.2	to talk about, and there's a lot to talk about,
0:38.0	and there's a lot of questions I have for them, and I have no doubt you guys are going to enjoy
0:41.9	this chat. So without further delay, here's my discussion with Jack.
0:49.2	Celebrating 10 years, you are listening to Bitcoin Fundamentals by the Investors Podcast Network. Now for your
0:56.6	host, Preston Pish.
1:07.1	Hey, everyone. Welcome to the show. I'm here with the one, the only Jack Mallors. Welcome back. Jack Ballers, as they say on CNBC.
1:15.6	What's going on, brother? Thanks for having me, man. How you been? Doing good. Doing good. Long time to see. You're up to some stuff, right? Just a couple things? Just a couple things. I was preparing for this. And there's so much going on in
1:30.1	your life right now. I don't even truly know where to start. I'm more curious, where do you want to
1:35.1	start? Because we're going to get to all of it. It's just a matter of the order that you would like
1:39.6	to kind of chip away at it. You know, it's funny. I've been listening to your show.
1:45.0	I tell you this every time I see you, but just for all the new listeners and the new
1:49.0	Bitcoiners, I've been listening to Preston's show for years.
1:52.0	It was your birthday in Costa Rica, and part of your birthday toast, I had to say, you've been
1:57.3	a material part of my macro and my career, just my understanding of the global financial
2:02.3	system. So I actually have really enjoyed all of your shows and tracking the macro stuff.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Stig Brodersen, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Stig Brodersen and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.