Ripple CEO: Long-term bullish on BTC, but Strategy’s financing model for buying coins drags down crypto market

CoinFeed June 27 news, according to CoinDesk report, Ripple CEO Brad Garlinghouse stated in a latest CNBC interview that he is long-term bullish on Bitcoin, but severely criticized the model of Strategy, under Michael Saylor, relying on issuing preferred stock to continuously increase BTC holdings, calling such financial engineering measures damaging to the overall crypto industry environment. Garlinghouse said that financing coin purchases via preferred stocks like STRC can only attract market attention in the short term, cannot create long-term value, and the core value of digital assets comes from real implementation. Currently, STRC is trading at a nearly 25% discount to face value, which in his view is a clear market rejection of this financing structure.