PANews June 27 news, according to a CoinDesk report, Ripple CEO Brad Garlinghouse stated in a recent CNBC interview that he remains long-term bullish on Bitcoin, but he sharply criticized the model of Michael Saylor’s Strategy relying on issuing preferred shares to continuously accumulate BTC, calling such financial engineering tactics a harm to the overall environment of the crypto industry.
Garlinghouse said that using preferred stock financing like STRC to buy coins can only attract market attention in the short term and cannot create long-term value. The core value of digital assets comes from real-world adoption and application. Currently, STRC is trading at a discount of nearly 25% to its face value, which in his view is a clear market rejection of this financing structure. Against a backdrop of market weakness this week, MSTR common stock fell to its lowest level since February 2024, and Bitcoin also briefly dipped below $59,000.
A CryptoQuant report estimates that after maintaining the current dividend pace, Strategy’s cash buffer shrank from over 7 years to just 14 months, recommending a halt in coin purchases to replenish funds. STRC trading below $100 also temporarily put its financing loop on hold. Benchmark-StoneX analyst Mark Palmer believes the system is merely less efficient and has not experienced a systemic collapse. Additionally, Ripple continues to advocate that XRP will follow a value development path entirely different from Bitcoin’s.
