The technical director of Ripple spoke about his “$15 million dollars.”
Ripple CTO David Schwartz sold ETH, BTC and XRP very cheaply a few years ago. Now he regrets the lost profits of tens of millions of dollars.
Schwartz wrote that as part of reducing the risk of cryptocurrency investments in 2012, he sold 40,000 ETH at $1 and an unnamed amount of BTC for $750 and XRP for $0.01. Obviously, there was a typo in his message, since in 2012 ETH and XRP did not yet exist, and Bitcoin cost less than $30. Probably we are talking about 2016, and Schwartz sold cryptocurrencies not on the same day.
At the current rate, 40,000 ETH are worth about $15.3 million. Schwartz explained that the decision to get rid of these digital assets was made together with his wife in order to reduce risks in his portfolio of cryptocurrency assets. However, now a Ripple employee regrets selling them at such a low rate, missing the possible benefit of tens of millions of dollars.
“I’m not prone to risk. Moreover, in my life there are people who depend on me financially and emotionally. By fate, I had to put “a lot of eggs in one basket.” I was quite satisfied with such a set of assets, but given the high risks of the cryptocurrency industry and my excessive rationality, I decided to sell these cryptocurrencies. Now it hurts me to think about every coin sold for such a price, “writes David Schwartz on Twitter.
Schwartz said earlier that even if he had not worked for Ripple, he would have necessarily invested in XRP. In addition, Ripple’s technical manager said in the spring that his team is working on new features that allow you to create stablecoins based on XRP.
Unlike Schwartz, not all enthusiasts regret the crypto assets spent, the course of which took off a few years later. In 2010, well-known programmer Lazlo Nanesh bought two pizzas for 10,000 BTC, and spent a total of 100,000 BTC on various purchases. Now Hanesh could be a billionaire. But he has repeatedly stated that he considers his then purchases for bitcoins useful for the development of cryptocurrencies and does not regret the lost wealth.