Bitcoin Seen as a Time-Recouping Asset, Strike CEO Says
Strike CEO Jack Mallers believes that Bitcoin and artificial intelligence can help humans reclaim their time. He argues that hard money, like Bitcoin, rewards people's time and energy well spent, unlike traditional currencies that rob them of it.
Mallers made his comments on Bitcoin Magazine's debut TV show, referencing the creators of the airplane, the Wright brothers, who invented their device when the U.S. was on a gold standard. He believes that bad money is destructive to our time and energy, forcing people to work longer and harder just to get basic necessities like a house or vacation.
Bitcoin recently experienced its best run in years, gaining around 25% in August, closing near $78,000. This followed Treasury Secretary Scott Bessent's move to expand long-dated bond buybacks, which pulled yields down and triggered short liquidations.
Mallers also commented on the U.S. economy, stating that the current level of debt is unsustainable and that inflationary policies are untenable. He expects the Federal Reserve to raise interest rates this week to tame inflation, despite the expected negative impacts on affordability.