Ripple CEO Targets Saylor's Bitcoin Buying Strategy, Citing Lack of Real-World Utility

Ripple CEO Brad Garlinghouse has taken aim at Michael Saylor's Bitcoin buying strategy, saying it's harming the market. In a recent CNBC interview, Garlinghouse argued that financial engineering can't replace real-world utility and that crypto companies should focus on building products people use.

He stated, 'Financial engineering does not drive long-term value.' Instead, assets with real-world use attract demand, liquidity, and trust over time. Garlinghouse pointed out that simply borrowing more money to buy additional Bitcoin doesn't create lasting value.

Garlinghouse also criticized Saylor's approach, saying it has hurt the overall market. He noted that this type of financial engineering may generate short-term excitement but does little to create lasting value for the crypto industry.

The Ripple CEO further emphasized that Strategy's use of leverage is making Bitcoin drops worse. He stated, 'You start to see that in a place that can actually compound negatively.' Garlinghouse specifically pointed to Strategy's STRC preferred shares, which now trade roughly 25% below their $100 par value.