David Schwartz, Ripple CTO, has revealed how much XRP he has. This is not the first time that Mr. Schwartz reveals information about his cryptocurrency holdings. However, this information is important to crypto holders and XRP investors.
Ripple CTO Reveals Information About His Crypto Holdings
In a recent conversation on Twitter, he mentioned how much XRP he owns. Ripple CTO answered an XRP user that asked him which were his holdings of this cryptocurrency. Mr. Schwartz informed he has more than 1 million and less than 10 million XRP.
Schwartz has also mentioned that he would quit his job if XRP reaches $1. Of course, we are not sure whether this was a joke or a real comment considering XRP has already surpassed this price level in the past.
His holdings, if true, represent between 0.001% and 0.01% of the total XRP supply. This can be considered a small exposure to the cryptocurrency for a Ripple executive.
Executives in most of the crypto projects in the market hold larger amounts of tokens of the networks they created. This has usually been against decentralization and the community has many times raised concerns about it.
Apparently, the reason behind his current crypto holdings is related to the way in which he acquired them. Two other users on Twitter mentioned that Mr. Schwartz chose shares in Ripple rather than XRP. However, he was able to purchase his XRP coins with his salary throughout the years.
Furthermore, he has also shared that he has also held other altcoins and Bitcoin (BTC) over time. Back in October this year, he said that in 2012 he invested in a wide range of cryptocurrencies. However, then he discussed a derisking strategy with his wife that included selling BTC for $750, XRP for $0.10 and Ethereum (ETH) for $1.
A few years later, all these digital assets reached all-time highs. For example, Bitcoin skyrocketed to $20,000, Ethereum reached $1,400 and XRP was traded above $3 per coin.
XRP is now the third-largest cryptocurrency in the world with a price per coin of $0.629. At the same time, XRP has a market valuation of $28 billion. If the market continues moving higher, we could see some of the virtual currencies reach new highs in the coming months. However, XRP, Ethereum and Litecoin (LTC) remain far from reaching new highs.