David Schwartz, a veteran of Ripple and the chief technology officer emeritus, has candidly revealed that he no longer holds a significant amount of XRP. In a series of posts on X (formerly Twitter), Schwartz also revisited his infamous early sale of Ethereum (ETH) at $1.05, stating he would not have sold if he believed there was a 1% chance it would reach $2,368.
Schwartz sold 40,000 ETH, which he had purchased at $0.311, using the $1.05 proceeds to buy solar panels. He explained that the odds of ETH reaching the $2,368 level did not seem plausible at the time. "If I had thought there was a 1% chance of it hitting $2,368, I would not have sold it for $1.05. I'm still not sure the odds of that happening really were more than 1% at the time," Schwartz said.
When asked about his current XRP holdings, Schwartz delivered an update on his portfolio: "I don't have that much left anymore. I've tried to get most of my assets (other than Ripple stock) away from crypto exposure. As I've said, I really don't like risk even though pretty much every risk I've taken has worked out amazingly well for me."
Schwartz explained that relying on his Ripple equity provides him with enough exposure without the volatility of holding pure digital assets. "I fully recognize that crypto may be a once-in-a-generation chance to get rich that we have not missed yet and that may mean that I miss a lot of it. I'm okay with that and hope my Ripple stock gives me enough exposure. I sleep better at night that way," he added.
Schwartz also recently dismantled the "uber-bullish" $10,000 XRP price targets pushed by social media influencers, arguing that if wealthy investors genuinely believed there was even a 1% chance of XRP hitting five digits, they would have already bid the token up to at least $20 today. He previously admitted to selling off a significant portion of his XRP portfolio at just $0.10, a price level that seemed "insane" back then.
