Brad Garlinghouse called the discount a “damning indictment” of Michael Saylor’s borrow-to-buy Bitcoin treasury model in comments to CNBC.
Ripple CEO Brad Garlinghouse said Michael Saylor’s Strategy has harmed the market, arguing that the company’s STRC stock trading 25% below par is a sign of stress in its Bitcoin treasury strategy. In comments to CNBC, Garlinghouse described the discount as a “damning indictment” of the borrow-to-buy bitcoin approach, which relies on raising capital to accumulate more Bitcoin.