Ripple CTO Reveals Father’s Massive XRP Buy

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Alex Dovbnya

David Schwartz, Ripple’s chief expertise officer, not too long ago unveiled that his father bought over 1,000,000 XRP again in 2014

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David Schwartz, Ripple’s chief expertise officer, not too long ago shared that his father acquired over 1,000,000 XRP again in April 2014 from Justcoin. Again then, its worth was roughly half a penny per XRP. 

A modest stake 

XRP reached staggering peak of $3.65 in January 2018. This ascent elevated its market worth to a powerful $140 billion. Chris Larsen, the co-founder of Ripple on the time, witnessed his crypto holdings, which comprised 9 billion XRP tokens, develop to an estimated worth of $60 billion. 

Nevertheless, David Schwartz, usually seen as the guts and soul of Ripple and its most passionate advocate, determined to go a distinct route, based on a report by Forbes. Regardless of his vital contributions and being the second worker, Schwartz shouldn’t be formally acknowledged as a co-founder of Ripple. He selected to just accept a wage and a modest 2% stake in Ripple over the XRP cryptocurrency.

Schwartz’s crypto holdings 

Diving deeper into Schwartz’s crypto preferences, a 2021 tweet from him gives insights into how he has managed his bitcoin holdings through the years. He talked about promoting parts of his bitcoin at varied worth factors, ranging from $100 and going as much as $50,000. As bitcoin’s worth reached $63,000, he revealed retaining solely about 2% of his authentic holdings. In one other tweet from the identical yr, Schwartz shared a list of cryptocurrencies he possessed on the time, with the checklist led by XRP, adopted by BTC, ETH, BAT, and others. He famous that these holdings weren’t essentially by selection however had been largely a results of airdrops and different occasions.

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