Ripple CTO David Schwartz’s Crypto Journey

David Schwartz, the chief technology officer of Ripple, recently revealed that his father purchased over one million XRP from Justcoin in April 2014.

In the past, one XRP cost approximately one-half cent. In January of 2018, XRP attained an astronomical high of $3.65.

This increase increased its market value to a staggering $140 billion. Chris Larsen, co-founder of Ripple, then saw his crypto holdings of 9 billion XRP tokens rise to an estimated $60 billion.

According to a report by Forbes, David Schwartz, often regarded as the heart and soul of Ripple and its most ardent advocate, decided to take a different path.

Schwartz is not recognized as a co-founder of Ripple, despite his substantial contributions and status as the company’s second employee. He opted for a salary and a 2% stake in Ripple rather than the XRP cryptocurrency.

A 2021 tweet from Schwartz provides insight into how he has managed his bitcoin holdings over the years, revealing additional details about his crypto preferences.

He sold portions of his bitcoin at prices ranging from $100 to $50,000, beginning at $100. As the bitcoin price reached $63,000, he revealed that he had sold only 2% of his initial holdings.

In a second tweet from the same year, Schwartz listed the cryptocurrencies he owned then, with XRP at the top of the list, followed by BTC, ETH, BAT, and others.

He noted that these holdings were primarily the result of airdrops and other events, not necessarily by choice.