Ripple CEO Brad Garlinghouse said he remains bullish on bitcoin while distancing that view from Strategy’s approach, adding that Michael Saylor and Strategy were not focused on the right priorities and that this has hurt the overall market.
Key Takeaways:
Garlinghouse maintained confidence in bitcoin, emphasizing its enduring function as a digital store of value.Meanwhile, he criticized Strategy’s leveraged financing, arguing it increased pressure during the cryptocurrency market downturn.Looking ahead, investors may continue weighing bitcoin’s long-term appeal against risks tied to corporate borrowing strategies.Garlinghouse said:
Garlinghouse Says Strategy’s Bitcoin Approach Has Hurt the Crypto MarketHe pointed to Strategy’s STRC preferred shares, saying they were trading roughly $25 below par. STRC is Strategy’s perpetual preferred stock, which pays an 11.50% annual dividend that is adjusted monthly to keep it near its $100 par value.
“I think team Michael Saylor wasn’t focused on the right stuff, and that has hurt the overall market.”
