Bitcoin payments company Strike raises $80 million
Successful Round of Funding
After a successful Series B funding round, Bitcoin Payment company Strike was able to secure $80 million. The round was led by venture capital firm Ten31 which focuses on Bitcoin companies. The round was also joined by Washington University, the University of Wyoming and the University of St. Lous.
What is next for Strike?
The funds will be utilized to build upon the relationships Strike already has and create new relationships with merchants. Strike uses the Lightning network which is utilized to speed up Bitcoin transactions making it easier for the leading cryptocurrency to be used for everyday purchases.
Strike founder and CEO Jack Mallers made a statement that “Every company that’s in the business of moving money is interested in superior payments’ ‘ Mallers continued to speak on how Strike is in talks with many of the merchants that want to do just that.
Photo property of REUTERS/Jose Cabezas taken June 10,2021 at El Zonte Beach in Chiltiupan, El Salvador
The company also has plans to release new product lines for new types of customers which includes large financial institutions and businesses.Strike has already been implemented by major e-commerce brands such as Shopify, NCR, and Blackhawk
Strike has made history
Strike joined El Salvador in making history when the company joined the country for its Bitcoin project as the country became the first in the world to recognize the cryptocurrency as legal tender, though there are some that claim that experiment was a failure. Strike was integral in installing the infrastructure for Salvadorans to spend their crypto and made a Bitcoin wallet available for the citizens of the county. Currently however, there are not many citizens using the wallet despite the government of El Salvador releasing its own version nd giving citizens free crypto.