🟠 Ripple глава criticized BTC model of Saylor using leverage, calling it a «convicting sentence»
Brad Garlinghouse has just dropped a bomb on Michael Saylor’s leveraged game plan for buying bitcoin. He calls MicroStrategy’s preferred shares, which trade at 26% below par, a «convicting sentence» of Saylor’s borrowing strategy for purchase. Garlinghouse remains optimistic about BTC, but draws a clear line between the potential of the asset and risky financial structures built around it. Saylor’s preferred shares are losing value, dividend payments are increasing, and for the first time the company is forced to sell BTC to cover its obligations. This is not about financial shenanigans; it’s about usefulness that determines long-term value, according to Garlinghouse, who points to Ripple’s own utility-focused approach for XRP. The criticism comes amid growing institutional adoption of BTC as a treasury asset, but Saylor’s model is showing cracks under pressure.
📊 Minimal immediate impact on BTC price, but it strengthens scrutiny of corporate treasury strategies and could slightly weaken sentiment around leveraged BTC accumulation games. In the long run, it highlights the debate between financial tricks and fundamental utility.
Is Saylor’s leveraged BTC model a time bomb or a masterclass in conviction? 👇
#ripple #microstrategy #saylor #garlinghouse #bitcoin
Brad Garlinghouse has just dropped a bomb on Michael Saylor’s leveraged game plan for buying bitcoin. He calls MicroStrategy’s preferred shares, which trade at 26% below par, a «convicting sentence» of Saylor’s borrowing strategy for purchase. Garlinghouse remains optimistic about BTC, but draws a clear line between the potential of the asset and risky financial structures built around it. Saylor’s preferred shares are losing value, dividend payments are increasing, and for the first time the company is forced to sell BTC to cover its obligations. This is not about financial shenanigans; it’s about usefulness that determines long-term value, according to Garlinghouse, who points to Ripple’s own utility-focused approach for XRP. The criticism comes amid growing institutional adoption of BTC as a treasury asset, but Saylor’s model is showing cracks under pressure.
📊 Minimal immediate impact on BTC price, but it strengthens scrutiny of corporate treasury strategies and could slightly weaken sentiment around leveraged BTC accumulation games. In the long run, it highlights the debate between financial tricks and fundamental utility.
Is Saylor’s leveraged BTC model a time bomb or a masterclass in conviction? 👇
#ripple #microstrategy #saylor #garlinghouse #bitcoin