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Jack Mallers: Large banks charge high fees to merchants, Bitcoin is the solution
CryptoWorld News reports that Coinpedia states that Jack Mallers, CEO of 21 Capital, said at the 2026 Bitcoin Conference that big banks charge merchants 3% to 5% fees, calling it an unfair and exploitative system. He pointed out that credit card rewards like cash back conceal the true costs, and merchants are actually paying fees for the benefit of consumers. Mallers emphasized that Bitcoin offers a cheaper and open alternative that can facilitate fast global transfers. He believes that Bitcoin is not only a store of value but also a real payment network capable of transferring funds quickly at very low costs. Mallers also mentioned that 21 Capital holds 43,514 Bitcoins, worth about $3.3 billion, reflecting strong confidence in Bitcoin’s long-term growth.