Strike CEO Jack Mallers Says Wall Street Poses No Threat to Bitcoin’s Core Principles

Bitcoin’s core principles include a decentralized network, a fixed supply cap of 21 million coins and permissionless participation. Wall Street institutions including BlackRock accelerated their push into the market after the U.S. Securities and Exchange Commission approved 11 spot Bitcoin ETFs on January 10, 2024, fueling debate over whether large pools of capital could concentrate ownership and weaken Bitcoin’s censorship resistance.

Strike CEO Jack Mallers recently dismissed those concerns on a podcast, calling Bitcoin “money for everyone.” He said even massive institutional investments could not rewrite the 21 million supply cap or the network’s consensus rules. Mallers argued that if Wall Street’s participation could destroy Bitcoin, the asset was never capable of succeeding in the first place. The report did not disclose any specific investment amount.