What did Ripple CEO Brad Garlinghouse say about Bitcoin (CRYPTO:BTC) on CNBC?

Garlinghouse appeared on CNBC's Squawk on the Street on 26 June and reaffirmed his bullish view on Bitcoin (CRYPTO:BTC), describing it as digital gold with a clear long-term store-of-value role. He highlighted BTC's efficiency over physical gold, noting that transferring roughly US$300 billion in bitcoin is far faster and cheaper than moving the equivalent in bullion.

Why does Brad Garlinghouse think Strategy's bitcoin strategy has hurt the crypto market?

Garlinghouse argued that Strategy's leverage-driven bitcoin accumulation model amplified downward pressure on the broader crypto market during the recent downturn. He said leveraged positions compound negatively in a declining market, and that Strategy's financial engineering distracted from what he sees as the right priorities for the industry.

What is Strategy's STRC preferred stock and why is it under pressure?

STRC is Strategy's perpetual preferred stock, designed to pay an 11.50% annual dividend adjusted monthly to keep its price near a US$100 par value. Garlinghouse noted STRC was trading roughly US$25 below par at the time of his comments, suggesting the market is pricing in elevated risk around Strategy's balance sheet and its ability to sustain dividend payments.

Did Strategy actually sell its Bitcoin (CRYPTO:BTC) holdings?

Strategy sold 32 BTC to fund preferred stock dividends — a notable departure from its long-standing accumulation-only approach. However, the company subsequently bought back more bitcoin than it sold, meaning its total holdings continued to grow. The sell episode raised questions about whether dividend obligations could force future BTC liquidations.

What is Brad Garlinghouse's Bitcoin (CRYPTO:BTC) price forecast for 2026?

Garlinghouse has pointed to forecasts that BTC could reach US$180,000 by the end of 2026, driven by growing institutional adoption and improving macro conditions. This is a potential scenario based on his public commentary, not a guaranteed outcome — and should be treated as a speculative projection, not a price target.

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Ripple CEO backs Bitcoin warns on Strategy leverage

Written by Liezl GambePublished Jun 28, 2026, 1:07 AM

Ripple CEO Brad Garlinghouse reaffirmed his bullish stance on Bitcoin (CRYPTO:BTC) during an appearance on CNBC's Squawk on the Street on 26 June.
Garlinghouse described BTC as digital gold, contrasting its efficiency with physical bullion by noting that moving roughly US$300 billion in gold reportedly took years and billions of dollars, while the same value could be transferred in bitcoin far more quickly.
He argued that digital assets that solve problems at scale can build liquidity, demand, and trust over time, with BTC's store-of-value use case anchoring its long-term role.

"I'm bullish on bitcoin,"

Garlinghouse said.

Garlinghouse has previously pointed to forecasts that BTC could reach US$180,000 by the end of 2026 as institutional adoption grows and macro conditions strengthen.

He also addressed Strategy's bitcoin accumulation model, arguing that its reliance on leverage intensified downward pressure on the broader crypto market during the recent downturn.

Strategy's preferred shares STRC were trading roughly US$25 below par value, according to Garlinghouse; STRC is a perpetual preferred stock paying an 11.50% annual dividend adjusted monthly to maintain a US$100 par value.

"Because they were using leverage, Michael Saylor would characterise it differently than leverage… but at the end of the day, it was leveraged, and then you start to see that in a place that can actually compound negatively,"

Garlinghouse added.

"I think team Michael Saylor wasn't focused on the right stuff, and that has hurt the overall market,"

Garlinghouse highlighted.

Strategy recently sold 32 BTC to fund preferred stock dividends, marking a departure from its long-standing accumulation strategy, before subsequently buying back more bitcoin than it sold.

Garlinghouse's comments drew a distinction between his constructive view on BTC as an asset and his criticism of Strategy's financial engineering and leverage-driven accumulation model.

Investors now face separate questions about bitcoin's role as a long-term store of value and the sustainability of Strategy's balance sheet model.

At the time of reporting, Bitcoin price was $59,989.80.