Jack Mallers is a cryptopreneur and the founder of Strike.
El Salvador is a country that has been in the headlines for making Bitcoin legal tender, and Jack Mallers played a major part in this milestone.
He came into limelight, because Strike is used by many Salvadorans to make Bitcoin transactions, and that alone got Jack Mallers’ net worth to $4 million.
Jack Mallers biography
Jack Mallers was born on 9th April 1994 in Chicago, Illinois and there’s little or no information available regarding his early days as a child.
He was an enthusiastic student throughout his school life, and he participated in several sports that gained him popularity across the country for being a national-level chess player.
Jack also loved basketball as well.
Quickly after finishing high school, he went to St. John’s College, although his goals were different, so he dropped out in the very first semester.
Jack Mallers family background
He came from a wealthy family, and Jack Mallers’ father is a long-time member of the Chicago Mercantile Exchange, which is a global derivatives marketplace.
Furthermore, his grandfather was the one who signed the check that established the Chicago Board Options Exchange, so with that family’s influence, Jack started investing during high school.
According to reports, Jack studied software development, which gave him the tools to start his own business.
However, before delving into cryptocurrency investment, Jack Mallers intention was to launch a business in the marijuana industry, and that also has to do with cannabis.
Jack Mallers strike career
He founded his first company, Zap, at 26 years old, and as a payment app, the company first worked on cannabis dispensaries in 2018 to support two retailers in Colorado.
Marijuana been legalized in some states of the US, it was still prohibited for recreational use on a national level, and financial services turned out very hard to come by for outlets.
Zap because of this, resorted to cash and cryptocurrency.
Mallers’ business fully transitioned into a cryptocurrency exchange after processing transactions as a marijuana payments firm, which he realized it wouldn’t work.
In other ways, he quickly pivoted into a different industry that brought about Olympus.
Olympus was the initial name of Strike, and was launched in 2019 to integrate Lightning Network into its app to provide fast Bitcoin transactions.
Strike also prides itself on offering no fees to users for purchasing Bitcoin – making it cheaper than the likes of Coinbase, CashApp and Venmo.
Currently, Strike is available in three countries, including the US, El Salvador and Argentina, while in Argentina users can only use Tether on the platform.
Mallers developed a close relationship with Nayib Bukele, the President of El Salvador, who pushed to acknowledge Bitcoin as legal tender.
In the presence of new law, Strike became a popular app for crypto transactions among Salvadorans.
In 2021, Strike attempted to work as a contractor for El Salvador’s government by assisting with the country’s Bitcoin adoption, but the offer was denied.
However, Jack’s app is still allowed to operate in the country.
Jack Mallers net worth
When Jack established his first business (i.e. Zap), he received $3.5 million in funding from Greenoaks Capital, though the company almost failed, but the genius found a way to save it.
In his effort, the company later became a profitable venture.
As a Bitcoin staunch, he doesn’t invest in altcoins (like; Tron or Solana), though the digital asset is volatile, Jack’s net worth of about $4 million is steady.
However, most of his current wealth is from the Strike app, which is endorsed by many major brands.
It’s quite impossible to state his exact net worth, or how much he made from his career, because no mainstream media has reported that yet.
Jack Mallers relationship
Jack isn’t married, and he hasn’t publicly shared anything about his present, or previous relationship statuses, because he’s a very secretive man.
He likes keeping his personal life very private.
Talking about his personal life, then Jack Mallers is quite serious about his career and currently doesn’t want any hurdles in his path to levels of success.
In other words, Jack Mallers is still very single, and also, there has never been any news available about him having a girlfriend in the past as well.