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Ripple CEO Brad Garlinghouse criticized Strategy Chairman Michael Saylor’s method of financing Bitcoin purchases. Garlinghouse stated that financial engineering will not create long-term value in digital assets, arguing that the true value of crypto assets should be based on use cases and utility.Speaking to CNBC, Garlinghouse targeted Strategy, led by Saylor, for resorting to financial instruments like preferred stock to continue its Bitcoin purchases. The Ripple CEO stated, “Financial engineering doesn’t create long-term value. The long-term value of any digital asset is determined by its use case.”Related News: <a href="https://en.bitcoinsistemi.com/chief-economist-and-analyst-says-the-fed-won-t-raise-interest-rates-this-year-and-explains-why/" rel="noopener noreferrer nofollow">Chief Economist and Analyst Says, “The Fed Won't Raise Interest Rates This Year,” and Explains Why</a>Garlinghouse considered the fact that Strategy’s STRC preferred shares were trading approximately 25 percent below their nominal value of $100 as an indicator of problems in the company’s strategy. STRC shares carry an annual cumulative dividend obligation of 11.5 percent and are used by Strategy to finance additional Bitcoin purchases.Ripple’s CEO argued that this approach had negative consequences not only for Strategy but also for the overall crypto market. Garlinghouse stated, “Michael Saylor’s team didn’t focus on the right things, and this harmed the overall market.” However, Garlinghouse added that he remains optimistic about Bitcoin in the long term.*This is not investment advice. Continue Reading: <a href="https://en.bitcoinsistemi.com/ripple-ceo-brad-garlinghouse-claimed-that-michael-saylor-and-strategy-have-harmed-the-cryptocurrency/" rel="noopener noreferrer nofollow">Ripple CEO Brad Garlinghouse Claimed That Michael Saylor and Strategy Have Harmed the Cryptocurrency Market</a>

Ripple CEO Brad Garlinghouse Claimed That Michael Saylor and Strategy Have Harmed the Cryptocurrency Market

Bitcoin Sistemi EN

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