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Ripple’s CEO criticizes Saylor’s Bitcoin financing strategy, saying the STRC discount is a “seriously negative signal”

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ME News report: On June 27 (UTC+8), Ripple CEO Brad Garlinghouse criticized Strategy and its chairman Michael Saylor’s Bitcoin purchase financing model in an interview with CNBC on Friday, saying that “financial engineering cannot create long-term value,” and that the long-term value of digital assets should ultimately be driven by real utility. Garlinghouse said Saylor’s team is not focusing on the right direction, and that this approach has already harmed the overall crypto market. He also emphasized that he remains bullish on Bitcoin, but opposes Strategy’s strategy of continuously adding to BTC positions through complex financing structures. His criticism particularly targets Strategy’s model of issuing preferred stock to finance Bitcoin purchases. STRC is one of Strategy’s preferred stocks, with an annual dividend obligation of 11.5%. Recently, STRC traded at a discount of roughly 25% to 26% versus its $100 par value, and Garlinghouse said this performance amounts to a “seriously negative assessment” of Strategy’s strategy. (Source: ODAILY)
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