Ripple CEO Brad Garlinghouse Criticizes Michael Saylor's Bitcoin Treasury Strategy

Ripple chief executive Brad Garlinghouse told CNBC that Michael Saylor’s approach of buying Bitcoin weekly with debt financing does not add long‑term value to the cryptocurrency. Garlinghouse said Bitcoin’s utility, not financial engineering, should drive its price and warned that leveraging balance sheets to accumulate the asset increases risk.

Saylor’s firm, Strategy (formerly MicroStrategy), remains the largest publicly listed holder of Bitcoin, having used convertible debt and equity issuances to fund its purchases. The company’s stock has fallen sharply this year, reflecting the broader correction in Bitcoin’s price from its historic peak.