Ripple CEO slams Saylor again on X. Brad Garlinghouse blamed Michael Saylor’s Strategy for the crypto market slump. He also quoted: “Financial engineering doesn’t drive long‑term value. Utility does.”
The post came shortly after a CNBC Squawk on the Street interview. In that interview, Garlinghouse directly addressed Strategy’s Bitcoin funding approach.
Why Ripple CEO slams Saylor’s strategy now
“I think team Michael Saylor wasn’t focused on the right stuff, and that has hurt the overall market,” Garlinghouse said.
Nevertheless, he claimed he is still bullish on Bitcoin. However, he slammed Strategy’s use of preferred stock issuance and other financing tools. Specifically, he explained that it “added some excitement on the way up and now that’s compounding on the way down.”
Garlinghouse pointed to the sharp decline in STRC, Strategy’s perpetual preferred stock, below its $100 par value. Nevertheless, STRC closed 12.20% higher at $83.67 after Michael Saylor’s Strategy announced a digital credit repurchase, 12% dividend, and a $3.80 billion cash reserve plan.
Crypto market slump and Bitcoin selling pressure
Garlinghouse’s comments came as Bitcoin fell below $60K. Meanwhile, XRP faces a drop below $1 amid broader crypto market volatility. According to on-chain data, the next XRP support levels based on volume are $0.80, $0.62, and $0.51.
Meanwhile, Michael Saylor’s Strategy has announced a Bitcoin Monetization Program. This program allows the company to sell BTC to fund the USD Reserve, STRC dividend, and MSTR stock repurchase. Consequently, this triggered a sharp 12.60% rebound in MSTR stock on Monday.
However, Bitcoin sales by Strategy may lead to a further drop in Bitcoin and a crypto market crash. Specifically, Bitcoin analysts remain cautious as BTC trades below the key 200‑week moving average.
The crypto prices remain in a correction phase, with participants watching for signs of stabilization. Therefore, Garlinghouse’s remarks spotlight headwinds for the cryptocurrency market. Ripple continues focusing on building real‑world utility to boost adoption for the next wave of bull market.
