Ripple CTO David Schwartz earlier this week told the world how much XRP he owns and it’s a significant amount — automatically making him a whale.
Schwartz is one of the original architects of the XRP Ledger. In a recent tweet, he revealed that he will quit his job when the price of the third-largest cryptocurrency hits $1. Schwartz further noted that he currently owns more than 1,000,000 XRP, estimated to be worth $610,000 at today’s prices.
Although the CTO does not discuss the exact amount of XRP in his possession, he clarified that he has less than $10,000,000 XRP. At current prices of $0.61, this XRP cache is equivalent to $6,100,000.
As usual, Twittersphere had a lot to say. Some questioned why the Ripple CTO has very little exposure to XRP while other ledger founders like Chris Larsen possess billions of the cryptocurrency.
Others noted that David chose a salary and shares in Ripple the company instead of a huge trove of XRP.
The chief technology officer at Ripple this year gave tons of details about his cryptocurrency portfolio. In October, Schwartz revealed how much he regretted dumping huge amounts of BTC, ETH, and XRP for cheap. At the time, he explained that he did this as part of a “derisking plan” that he discussed with his wife.
Most recently, Schwartz said he lost at least $300,000 while trading no-name altcoins like FLASH, TIX, KUDOS, DICE, KIND, VEZT, BEE, AMP, NRN, SIG, and PRYZE that ended up being worthless.
While he is a risk-averse person who doesn’t like putting a lot of eggs in one basket, David Schwartz still owns considerable amounts of BTC, XRP, small amounts of BAT and ETH, and very small amounts of a few other cryptocurrencies.