David Schwartz of Ripple revealed that he sold 40,000 Ether for $ 1 each as part of a risk management plan made with his wife in 2012.
Ripple’s chief technology officer , David Schwartz, revealed that he and his wife decided to make a “risk-elimination plan” for their crypto investments in 2012 – resulting in an eight-digit lost profit at current prices.
In a series of tweets published on October 11, Schwartz revealed that he sold 40,000 Ether (ETH) for $ 1 each at the time – a stock that would be worth more than $ 15.5 million at today’s prices.
The Ripple (XRP) executive also said he regretted selling a significant amount of Bitcoin (BTC) for $ 750 and a large treasure chest of XRP for $ 0.10, but did not reveal the volume of sales.
The user, who was not talking about Schwartz specifically, added : “You can’t go around trying to build faith in others for XRP until you yourself have faith in him and feel that mocking him is your best option.”
Ripple’s CTO emphasized that his decision to risk in 2012 was informed by the fact that he is “a risk-averse person with people who depend on me financially and emotionally.” “Fate made me put many eggs in the same basket [… ] The risk is very high across the cryptocurrency space. I am too rational to pretend otherwise and suggest that others do the same. “
Last week, Ripple co-founder and chief executive officer Chris Larsen criticized the United States for not following countries like China, Singapore and the UK in promoting innovative cryptography, suggesting that the company may soon move out of the United States.