Ripple chief technology officer David Schwartz revealed they are long Bitcoin instead of XRP

Have you ever wondered why the price of XRP is not rising while Ripple is always trying to create more demand for it? Even Ripple officials do not express support for XRP, how can XRP price growth in the future?

Ripple executives Long Bitcoin but won’t say the same about XRP

Recently, David Schwartz, Ripple chief technology officer, has revealed some reasons why they only long Bitcoin. However, Schwartz barely mentioned XRP.

In a series of tweets, Schwartz said that global regulatory uncertainty is preventing the company from predicting price action for XRP. Ripple currently owns more than half of the total XRP supply and is actively working to develop its ecosystem through investments in the cryptocurrency space and the ODL remittance platform.

Therefore, Schwartz – also one of the architects of XRP Ledger – said:

“The company is acting out of an abundance of caution considering its sizable stake in the crypto asset and in light of the lawsuits claiming Ripple illegally sold the digital asset as an unregistered security.”

Schwartz began Bitcoin mining in 2011. He revealed he has sold most of his BTC portfolio and currently owns 5% of the BTC he once held.


Source: Quora

Back in August 2019, Schwartz said he still holds a significant portion of XRP on XRP that he has accumulated over the years.

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