Ripple CTO talks about his regrets over the sale of 40,000 ETH for $ 1
Ripple CTO David Schwartz claims he held tens of thousands of Ethereum coins alongside bitcoin and XRP long before they peaked. According to him, together with his wife, they began to sell significant volumes of digital assets several years ago, but the decision to liquidate the second largest cryptocurrency for a small fraction of its current value belonged to him..
“However, the sale of 40,000 ETH at $ 1 is entirely on me,” he said..
At today’s exchange rate, the value of these assets is $ 15.3 million. CTO Ripple admits that he regrets his decision, as well as selling XRP and Bitcoin much below their maximums..
“I made the decision to mitigate risks in 2012 or around this time, having discussed investment in cryptocurrencies with my wife. She insisted that we agree on a plan to mitigate risks right at that moment. I must say that it hurts me to think about each bitcoin that I sold for $ 750 and XRP for $ 0.10, “he added, without specifying the volume of the sold cryptocurrency..
According to Schwartz, the decision to sell cryptocurrency at the time was dictated by his personality: “When it comes to risk mitigation, I don’t accept risk when it comes to people who are financially and emotionally dependent on me. Fate made me put my eggs in one basket. I love this basket, but the risks in the entire cryptocurrency space are too great. “.
Despite deliberately limiting risks, Schwartz is not ready to completely abandon investments in cryptocurrencies: “I hold XRP and BTC, as well as small volumes of BAT and ETH and very small volumes of some other cryptocurrencies.”.
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