The director of Ripple technology, David Schwartz, revealed unusual details about his personal journey through the space of cryptocurrencies. In separate disclosures in social media, Schwartz shared two main information on the extremely low price, after which he bought XRP for the first time and the number of bitcoins, which he extracted over ten years ago.
Ripple Cto reveals a shockingly low input price
David Schwartz, technology director in Ripple, surprised The XRP community with a revelation that confirms how early it was in the game. During the thread on the social media platform, X Schwartz responded to the user’s comment on early investors buying XRP for 0.50 USD, revealing that he personally bought XRP after a fraction of this price for just 0.006 USD. The disclosure immediately caused a conversation in the XRP community, especially since Schwartz was always private about its resources.
Although Schwartz played a fundamental role in Development of the Book of XRPHe did not receive a huge initial token allocation, like some other figurines. Instead, he decided to pay and 2% of his own capital in the company.
Although he did not reveal XRP He bought at that time or the amount he currently has, the transparency of his early entry was enough to cause discussions about his long -term involvement in the Ripple ecosystem. Interestingly, it would not be the first time Schwartz made such details available. In October 2023, Schwartz shared this His father bought over a million XRP tokens in 2014 at a price of 0.005 USD. At the time of writing, XRP trads $ 2.27.
250 bitcoins extracted in 2011
In separate, but Equally revealing disclosure On the social media platform, X Schwartz offered his early commitment to Bitcoin. In particular, Ripple CTO confirmed that in total it has extracted 250 BTC. It was in 2011, shortly after the discovery of Bitcoin. At that time, Bitcoin traded around USD 30. At that time, mining was still possible with relatively modest equipment and it was effortless to get mining equipment from early cryptographic forums, but shopping with Bitcoin was sporadic.
Although Schwartz He expressed his dissatisfaction Without getting to know Bitcoin by 2011 in an earlier post, he had the opportunity to extract when Bitcoin fell only USD 2.50. Nevertheless, Bitcoin Schwartz’s activity in 2011 Long before he went to the mainstream. He later revealed that he sold bitcoins he extracted, and used the income to buy XRP and Ethereum. This movement was based on his growing belief in more scalable and balanced blockchain platforms compared to the energy -saving Bitcoin model.
At the time of writing, Bitcoin trades for USD 109,040.
A distinguished picture from Getty Images, chart from TradingView.com
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