Strike Launches Bitcoin-Backed Loans With No Forced Liquidation
JH Kim
Summary
- Strike has launched a new loan product backed by Bitcoin.
- The product does not trigger forced liquidation as long as borrowers continue making repayments, even if Bitcoin's price falls.
- Chief Executive Officer Jack Mallers said there are "no margin calls and no forced liquidation tied to price," adding that "volatility is unavoidable, but liquidation is avoidable."
Forecast Trend Report by Period
Bitcoin financial services firm Strike has launched a new loan product backed by Bitcoin.
Crypto news outlet The Block reported on July 7 that the product does not trigger forced liquidation as long as borrowers continue making repayments, even if Bitcoin's price falls.
Strike Chief Executive Officer Jack Mallers said there are "no margin calls and no forced liquidation tied to price." He added, "Volatility is unavoidable, but liquidation is avoidable."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.