Ripple CEO Criticizes Saylor's Bitcoin Model as STRC Shares Fall 25% Below Par

According to an interview with CNBC, Ripple CEO Brad Garlinghouse criticized Michael Saylor's Bitcoin accumulation model yesterday, saying MicroStrategy's reliance on financing structures to fund BTC purchases has added pressure to the broader crypto market as Bitcoin rose above $60,000.

Garlinghouse said long-term value in digital assets should come from utility rather than financial engineering. He pointed to MicroStrategy's STRC preferred stock trading approximately 25% below its $100 par value as evidence that the company's funding model has faced strain during market downturns. Despite his criticism of the financing approach, Garlinghouse said he remains bullish on Bitcoin and views it as digital gold, citing its transferability advantages over physical gold across jurisdictions.