David Schwartz Hasn’t Bought XRP in Years: And His Latest Comments Sparked a Firestorm

David Schwartz's recent comments about his cryptocurrency holdings have ignited fresh debate over Ripple's business model and adoption claims. The former Ripple CTO disclosed he hasn't purchased XRP in years and has sold nearly all his digital assets due to personal risk aversion.

Schwartz still holds substantial Ripple stock, which he considers riskier than he would prefer. His revelation has prompted questions from XRP community members about his confidence in the asset he helped create.

Reduced Holdings

Schwartz has dramatically reduced his XRP holdings from 26 million to just 3 million. His Bitcoin holdings decreased from 1,500 to 1 BTC, while his Ethereum stash fell from 40,000 to 6 ETH.

Community Reaction

Some XRP holders questioned why someone who helped develop the XRP Ledger would still view the asset as risky. One user noted Schwartz understands the technology's potential and questioned his reluctance to hold more XRP.

Schwartz acknowledged that most major risks he's taken have paid off but emphasized his personal aversion to financial risk. However, his comments have exposed a divide in community expectations about XRP's future.

Market Impact

XRP has fallen 2.2% in the past 24 hours and more than 18% in the past week, struggling near the $1.06 level. The sell-off has pushed XRP to sixth place in cryptocurrency market capitalization, with USDC overtaking it.