Ripple CEO Says Strategy’s STRC Preferred Stock Trades at 25% Discount to Face Value

Ripple CEO Brad Garlinghouse said Strategy has had a negative impact on the market. According to NS3.AI, Garlinghouse pointed to Strategy’s perpetual preferred stock, STRC, which he said was trading at a 25% discount to its face value. Garlinghouse cited the discount as an example supporting his view on the company’s market impact. The remarks referenced Strategy, formerly known as MicroStrategy, and its issuance of the STRC perpetual preferred stock.