Ripple CEO Garlinghouse Bullish on Bitcoin but Criticizes Strategy's Leverage on June 26

According to CNBC Squawk on the Street on June 26, Ripple CEO Brad Garlinghouse said he remains bullish on bitcoin, framing it as a long-term digital store of value. He compared bitcoin's efficiency to physical gold transfers, noting that moving $300 billion in gold takes years and billions of dollars, while the same value in bitcoin can be transferred much faster.

Garlinghouse criticized Strategy's leveraged financing approach, arguing that its reliance on leverage amplified losses as the crypto market declined. He stated that Strategy's focus on financial engineering rather than utility has hurt the overall market.