Strike Founder: Wall Street Can't Kill Bitcoin! Real Estate and Government Bonds Will Eventually Be Demonetized

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Strike founder and CEO Jack Mallers stated on the What Bitcoin Did podcast that large-scale Wall Street participation in Bitcoin does not pose a material threat to BTC, asserting, "If Wall Street can kill Bitcoin, then it never deserved to succeed in the first place." (Previous coverage: Tether builds a "Bitcoin Berkshire": 21 Capital merges Strike and Elektron) (Background: Adam Back: Bitcoin's lack of a founder is an advantage; ETF institutions are merely custodial) - Mallers stated on the What Bitcoin Did podcast that "if Wall Street can kill BTC, it doesn't deserve to succeed," emphasizing that Bitcoin is money for everyone. - Assets such as real estate, art, and government debt will be demonetized, and Bitcoin is being repriced by global capital. - Bitcoin ETF has attracted tens of billions of dollars in inflows; Mallers views institutional entry as a positive signal for Bitcoin's mainstream adoption. In the latest episode of What Bitcoin Did, the host threw a direct question at Bitcoin fundamentalists: What are you actually afraid of? After having his bank account closed by JPMorgan years ago, Strike founder Jack Mallers, who stormed the NYSE this year with Twenty One Capital, sounded provocative. However, Mallers believes that Wall Street's massive entry into the Bitcoin market will not threaten Bitcoin's core principles. He stated bluntly on the show: "If Wall Street entering the market can kill Bitcoin, then Bitcoin itself never had the potential to succeed. Do you believe in a fragile ideal, or a mathematically guaranteed network?" The essence of Bitcoin is "money for everyone." Mallers emphasized that by design, it should not exclude any participants, including ideological opponents of the monetary movement or traditional institutions. Mallers further pointed out that Bitcoin is currently facing a capital war, not a regulatory one. Assets like real estate, art, and government debt have long been used as substitutes for "stores of value," but they are being demonetized; meanwhile, Bitcoin is being monetized. In Mallers' view, the involvement of traditional financial institutions is an inevitable process for Bitcoin, not a threat. When the world's largest asset managers begin allocating Bitcoin for their clients, it serves as a strong layer of validation for Bitcoin. His logic is simple: if Bitcoin can truly siphon capital away from real estate and government debt, then he welcomes Wall Street to accelerate this demonetization; if it cannot, then it makes no difference whether Wall Street enters or not. Since the approval of Bitcoin ETF in early 2024, it has attracted tens of billions of dollars in inflows. Some Bitcoin supporters worry that institutional concentration could influence Bitcoin's development direction. Mallers holds a clearly positive attitude toward this, viewing it as a positive signal for Bitcoin's mainstream adoption rather than a trend to be feared. Mallers is proving this with his own actions. The Twenty One Capital he co-founded listed on the NYSE in December 2025 (ticker: XXI), holding 43,514 BTC at the time of listing, making it the third-largest corporate Bitcoin treasury in the world. This April, parent company Tether further announced the merger of Strike and the mining firm Elektron into 21 Capital to build a "Bitcoin version of Berkshire Hathaway." However, 21 Capital's stock price does not seem to have been particularly favored, currently falling from its post-listing high of approximately $47 to yesterday's closing price of $8.62. Does Jack Mallers think Wall Street's participation in Bitcoin is a threat? No. Mallers believes that large-scale Wall Street entry into the Bitcoin market is a positive signal for mainstream adoption, and the involvement of traditional financial institutions is an inevitable result of Bitcoin's "monetization" process, stating, "If it can be killed by BTC, it means it didn't deserve to succeed." What does Mallers mean by "demonetization"? It refers to the process where traditional assets like real estate, art, and government debt, which have long been used as substitutes for stores of value, gradually lose their "quasi-money" status as Bitcoin is monetized, leading to a reallocation of capital toward Bitcoin.

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