Ripple’s chief technology officer David Schwartz said Bitcoin and XRP represent the majority of his crypto portfolio
Ripple’s chief technology officer, David Schwartz, was one of the early developers of the XRP ledger. Therefore, what cryptocurrency this man owns is a big curiosity to the cryptocurrency community. Currently, Schwartz himself reveals he owns Bitcoin, ETH, XRP and BAT.
Yes. I own XRP and BTC as well as small amounts of BAT and ETH, and very small amounts of a few others.
— David Schwartz (@JoelKatz) September 9, 2020
David Schwartz owns several crypto assets on top of his XRP holdings
“Bitcoin and XRP represent Majorca of my crypto portfolio. In addition, I own smaller amounts of Ethereum and Basic Attention Token (BAT).”
Basic Attention Token (BAT) is a utility token for an open-source, decentralized blockchain-based digital advertising platform. An ERC-20 token built on top of the Ethereum blockchain, BAT has a market cap of nearly $ 385 million, the 43rd largest in the industry. The asset was trading around $ 0.35 – $ 0.40 throughout the second half of August, but it has since plummeted to about $ 0.26 at time of writing, according to CoinMarketCap. The BAT ecosystem also includes Brave, an open-source web browser that prevents tracking and promotes decentralization as a means of breaking corporate controls and centralized power.
In the past, Ripple executives have been questioned about their willingness to publicize their bullish outlook on Bitcoin but not about XRP. In a series of tweets, Schwartz says global regulatory uncertainty is preventing the company from predicting price action for the third-largest cryptocurrency by market cap.
Schwartz said in May the following:
Global regulatory uncertainty. It should be enough just to be thoroughly honest, but unfortunately it isn’t.
— David Schwartz (@JoelKatz) May 20, 2020
Ripple owns more than half of the total supply of XRP and is actively working to grow its ecosystem through investments in the cryptocurrency space and through its XRP-based remittance platform, ODL.
Schwartz, who is one of the original architects of the XRP Ledger, says 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.
I don’t want to assume anything, JK. Are you saying that Ripple employees are not long XRP because of the uncertainty of where global regulations may land on whether or not it’s a security?
— CryptoPennyCO 🚀💰🤷🏻♂️ 2025 (@CryptoPennyCO) May 20, 2020
Schwartz, who began mining Bitcoin back in 2011, says he’s sold much of his BTC portfolio. He now owns 5% of the BTC that he once held.
Back in August of 2019, Schwartz said he still holds a “significant fraction” of the XRP he has accumulated through the years.
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