Ripple CTO Makes Major Revelations: Early XRP Entry, Mined Bitcoins — Here’s The Details
Main Idea
Ripple CTO David Schwartz reveals his early investments in XRP and Bitcoin, including purchasing XRP at $0.006 and mining 250 BTC in 2011.
Key Points
1. David Schwartz, Ripple's CTO, disclosed he bought XRP at $0.006, a fraction of its later price of $0.50.
2. Schwartz mined 250 BTC in 2011 when Bitcoin was trading around $30, placing him among early adopters.
3. Schwartz opted for a salary and 2% equity in Ripple instead of accumulating large holdings of XRP.
4. In 2014, Schwartz's father purchased over a million XRP tokens at $0.005.
5. Schwartz used proceeds from Bitcoin mining to acquire XRP and Ethereum, citing concerns about Bitcoin's energy-intensive proof-of-work model.
Description
Ripple’s Chief Technology Officer, David Schwartz, has revealed some remarkable details about his personal journey through the cryptocurrency space. In separate disclosures made on social media, Schwartz shared two major pieces of information on the extraordinarily low price at which he first bought XRP and the number of Bitcoins he mined more than a decade ago. Ripple CTO Discloses Shockingly Low Entry Price David Schwartz, the Chief Technology Officer at Ripple, has surprised the XRP community...
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