As the next great cryptocurrency bull run may soon be upon us, Ripple CTO David Schwartz shared one of his biggest regrets at the start of the previous 2017 bull run.
Schwartz shared over Twitter that he sold all of his $40,000 worth of Ethereum (ETH) at the beginning of the 2017 bull run to put solar panels on his house. While it may have seemed like a wise decision at the time, Schwartz missed out on $40 million had he sold at the peak of 2017’s bull run.
I sold all my ETH, $40,000 worth, to put solar panels on my house right before the start of the run that would have made that worth $40mm or so. I felt like an investment genius when I did it, pocketing a decent profit and ending all risk. 1/2
— David Schwartz (@JoelKatz) April 21, 2019
XRP Skeptics Attack Ripple CTO, Schwartz for His Actions
The tweet above was made in response to Twitter user @hlnoooo, who proclaimed that Ripple CTO, Schwartz was selling his XRP stack and recommended that everyone holding XRP to get out now.
As seen in the tweet below, the Twitter user provided a link proving that Schwartz was indeed selling XRP:
Warning to all $XRP holders.
Ripple CTO @JoelKatz recently selling his $XRP stack is the biggest warning sign one could ever get. This is the most bearish sign for $XRP I have ever witnessed since beginning of '17.https://t.co/aHqeaLbxv8
I recommend everyone to get OUT NOW
— Hlnoooo (@hlnoooo) April 20, 2019
In addition to Schwartz selling his XRP at its current low prices of roughly $0.31, @hlnoooo pointed out that there have been other Ripple employees selling XRP over the past few days as well.
According to the aforementioned Twitter user, Ripple employees are selling due to uncertainty regarding the Security and Exchange Commission’s (SEC) future framework on digital assets.
Further backing up his case, @hlnoooo stated that Schwartz has been selling off his XRP since January 2018, as seen from the public transactions associated with his XRP wallet and a tweet made Schwartz from that time as well.
I hold some XRP that I bought on the open market over the years as well as other similar assets. When I first chose to put money in, I agreed on a de-risking strategy with my wife should we ever have too much at risk, which I've been following with some sadness.
— David Schwartz (@JoelKatz) January 16, 2018
Schwartz Addresses XRP Skeptics
Replying to @hlnoooo, Schwartz admitted to selling portions of his XRP back in January 2018, and said he is still selling today. Justifying these actions, he says it’s apart of his de-risking strategy that he and his wife agreed upon.
Adding to this, he said:
“The majority of our liquid assets is still XRP that I purchased on exchanges by market making. The majority of our illiquid assets is still Ripple stock. I’m going to have lots of skin in the game for the foreseeable future whether I want to or not.”
Have you ever made a regrettable decision of selling crypto that later skyrocketed in price? Are you selling some crypto now, even though we may be entering a bull market soon? Let us know in the comment section below.
