Strike and Tether Plot Bitcoin Power Grab—Aiming for 5% of Total Supply

Bitcoin’s institutional land rush just got wilder. Strike and Tether—two of crypto’s most aggressive players—are teaming up to snap up a staggering 5% of all BTC in existence, according to Jack Mallers. That’s not a nibble—it’s a whale-sized bite.

Why this matters: When stablecoin giants and lightning-network pioneers start hoarding BTC, the ’digital gold’ narrative shifts from speculation to cold, hard accumulation. Banks might want to check their vaults—these guys play for keeps.

The cynical take: Wall Street will spin this as ’validation’ while quietly sweating over their shrinking control. Meanwhile, Bitcoiners will nod and whisper: ’Told you so.’

Will Strike Buy 5% of Bitcoin?

Speaking to Pete Rizzo on the Supply Shock podcast, Mallers gave listeners a glimpse into his long-term vision for Strike’s role in the digital asset space. “What I’ll tell listeners is, use your imagination, right?” he began. He added, “Like the business is founded by myself and Tether. And, you know, if we have 1, 2, 3, 4, 5% of the bitcoin network.”

Though Mallers did not confirm a specific amount of Bitcoin currently held or planned for acquisition, the implication of a 5% stake. This is roughly equivalent to around one million BTC at present total supply, which suggests an ambitious strategy.

🚨 JUST IN: JACK MALLERS SAYS HIS COMPANY MAY BUY UP TO 5% OF ALL BITCOIN

THAT’S NEARLY 1 MILLION BTC.

YES, YOU READ THAT RIGHT. 🫨#BTC #BITCOIN pic.twitter.com/lEODNzF2ey

Mallers also referenced the potential influence and value of experience both Strike and Tether bring to the table. “The Tether network, and a lot of experience and lessons that Strike and my life lived there,” he said. Mallers added that “we think the combination of all it’s gonna be really interesting.”

He hinted at broader goals for the partnership’s influence in the crypto ecosystem. Mallers stated, “There’s a lot of good we can do for the world.” However, neither Strike nor Tether has publicly confirmed further details about the scale or timeline of the proposed Bitcoin acquisitions.

Also Read: Hyperliquid Whale Snaps Up $1B BTC Longs as Bitcoin Breaks ATH