Ripple CEO Brad Garlinghouse criticized Strategy Chairman Michael Saylor's approach of continuously financing Bitcoin purchases through financial engineering during an interview with CNBC, saying it harms the entire crypto market. Garlinghouse stated that the long-term value of digital assets should be driven by real utility, not financial engineering. He pointed to the approximately 25% discount at which Strategy's preferred stock STRC trades compared to its $100 face value as evidence of issues with this strategy. STRC funds Strategy's further Bitcoin purchases by issuing cumulative preferred stock with an annual interest rate of 11.5%. (The Block) https://www.(wublock123.com)/news/ripple-ceo-michael-saylor-financial-engineering-harms-crypto-market-63551