Ripple CEO Garlinghouse criticizes Saylor's Strategy funding model as 'financial engineering' that hurt crypto
By
Shaurya Malwa
Summary
Ripple CEO Brad Garlinghouse remains bullish on bitcoin but criticizes Michael Saylor's Strategy (formerly MicroStrategy) for using a preferred-stock funding model to buy bitcoin, calling it "financial engineering" that has distracted the market. He points to STRC's slide to a record low as evidence. Garlinghouse, who runs the company behind XRP (a bitcoin rival), argues that Saylor's approach has ultimately hurt the crypto space by creating market distortions rather than genuine value.
Source
bskyRipple CEO Garlinghouse criticizes Saylor's Strategy funding model as 'financial engineering' that hurt cryptocoindesk.comKey quotes
· 3 pulledRipple CEO Brad Garlinghouse said he remains bullish on bitcoin but argued that Michael Saylor's preferred-share funding model for buying the cryptocurrency has hurt the broader crypto market.
Garlinghouse called Strategy's preferred-stock funding model 'financial engineering' that distracted the market.
He pointed to STRC's slide to a record low as the evidence.
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