Ripple CEO stays bullish on bitcoin but says Saylor's strategy has hurt crypto
60-second summary
Ripple CEO Brad Garlinghouse remains optimistic about bitcoin's prospects despite criticizing Strategy's preferred-stock funding model, calling it "financial engineering" that has distracted the market. This model, adopted by Strategy, has led to a record low for STRC's price, with Garlinghouse using it as evidence of the strategy's failure, impacting the overall crypto market sentiment negatively.
Ripple's Brad Garlinghouse called Strategy's preferred-stock funding model "financial engineering" that distracted the market, pointing to STRC's slide to a record low as the evidence. He runs the company behind XRP, a bitcoin rival.