Why did strike had to start lending.

No matter how far we progress, the fiat mindset still eats at us.

Why increase the counter party risk for your customers. Risk of having sats on Strike was already 6/10, now it’s 8/10.

I personally don’t like this move. I’ll probably start moving my business elsewhere.

Reply to this note

Please Login to reply.

Discussion

Because Bitcoin is not pumping hard or fast enough for people to spedn it that's why it's been collateralized.

Because they have probably maxed out their existing US-based TAM and need a sexy new product as a growth strategy. I can’t blame them, I just would caution anyone who intends to use it that this is the fastest way to lose your bitcoin collateral when the market pukes.

Because they have customers that asked for it. Not everyone is going to use Bitcoin the same way and that's fine.

Because we're the lucky ones in sov stage. Strike understands this.

I'd recommend Bitcoin Well. Straight to self custody, and now supporting lightning in the USA to help with consolidating UTXOs for smaller amounts.

https://bitcoinwell.com/referral/blessedbovine