[Ripple CEO: Still Optimistic About Bitcoin, Michael Saylor's Actions Hurt the Crypto Market] According to a report by Jinse Finance, on June 27, Ripple CEO Brad Garlinghouse criticized Strategy and its chairman Michael Saylor's method of funding Bitcoin purchases during an interview with CNBC on Friday. Brad Garlinghouse stated: 'Financial engineering does not create long-term value... The long-term value of any digital asset will be driven by utility. Michael Saylor's team is not focusing on the right things, which has harmed the entire market.' The financial engineering Garlinghouse referred to appears to revolve around Strategy's approach of issuing preferred shares to raise funds for purchasing more Bitcoin. Garlinghouse specifically pointed out that Strategy's stock, STRC, is trading 25% below its $100 par value, which serves as an example of a flawed strategy. He described STRC's decline as a 'powerful indictment' of Strategy's approach. However, he added that he remains optimistic about Bitcoin. Garlinghouse made these remarks as Bitcoin fell below $60,000 again on Friday.