u.today
David Schwartz, Ripple's Chief Technology Officer (CTO), has clarified his position on $XRP in a recent remark on X (previously Twitter), putting an end to speculation over his cryptocurrency holdings.
Schwartz made this clarification after an X user claimed he sold billions of $XRP to acquire $ETH and $BTC, adding that the proof was in his SEC statements.
In a move to dispel rumors and provide transparency in the cryptocurrency community, Schwartz disclosed the details of his $XRP holdings and his investment history.
Schwartz revealed that at the peak of his holdings, he possessed approximately 26 million $XRP, and that, contrary to rumors, he has never sold $XRP to buy other cryptocurrencies, except possibly selling small amounts of $XRP for some "unusual" purposes.
He further explained that while he did sell some Bitcoin ($BTC) holdings in the past, it was to acquire more $XRP and Ethereum ($ETH), not to diversify into other digital assets.
"Me? At my peak holdings, I had about 26 million $XRP. I sold $BTC to buy $XRP and $ETH. I don't think I've ever sold $XRP to buy another crypto, except maybe small amounts for some unusual purpose," Schwartz responded.
Me? At my peak holding, I had about 26 million $XRP. I sold $BTC to buy $XRP and $ETH. I don't think I've ever sold $XRP to buy another crypto except maybe small amounts for some unusual purpose.
— David "JoelKatz" Schwartz (@JoelKatz) April 29, 2024
This statement is significant as it demonstrates Schwartz's long-term confidence in $XRP, despite price volatility and the Ripple-SEC legal battle. His decision to convert $BTC into $XRP and $ETH underscores his belief in the utility and potential of these cryptocurrencies.
Particularly, Schwartz's disclosure regarding his $XRP holdings puts an end to the ongoing speculation on $XRP sales.
At the time of writing, $XRP was down 1.79% in the last 24 hours to $0.496.
In positive news, SBI Group will become the first Japanese corporation to use $XRP Ledger (XRPL) blockchain supply chain solutions as Ripple enters a strategic partnership with Tokyo-based consulting firm HashKey DX.