As the sell-off in Bitcoin and altcoins continues, David Schwartz, former CTO of Ripple, made a noteworthy statement regarding his personal crypto assets.
Ripple’s former CTO said he sold “almost his entire” digital asset portfolio and hadn’t bought XRP in a long time because he felt “too uncomfortable” with the risk.
XRP, Bitcoin, and Ethereum Assets Have Decreased Significantly!
David Schwartz stated that his large sell-off was driven more by personal risk sensitivity than by a loss of confidence in cryptocurrencies.
Their holdings decreased from approximately 26 million XRP, 1,500 Bitcoin, and 40,000 Ethereum to 3 million XRP, 1 BTC, and 6 ETH.
Schwartz stated that his XRP sales were part of a long-term strategy and, as part of an agreement with his wife, he sold a portion of his holdings when XRP reached a new all-time high.
At this point, Schwartz added that he was uncomfortable taking risks and had therefore sold almost all of his cryptocurrencies.
Ripple’s veteran executive added that every risk he’d taken on XRP and cryptocurrencies so far had yielded huge returns, but his cautious approach prevented him from becoming a billionaire. Schwartz wrote in his post, “I’ve been exactly as successful as I wanted to be.”
Schwartz’s statements sparked a debate among XRP investors about whether the sell-off stemmed from negative expectations and a lack of confidence in XRP. However, the former CTO emphasized that his decisions were not specific to XRP, but stemmed entirely from his personal investment approach.
*This is not investment advice.
