- Ripple’s CTO shocks crypto fans with a revelation that rewrites XRP’s early investor timeline.
- David Schwartz’s XRP purchase price is turning heads across the community.
- Discover how early Ripple’s top tech executive entered XRP, surprising the entire crypto community.
Ripple’s Chief Technology Officer, David Schwartz, has surprised the XRP community by revealing that he purchased XRP at just $0.006. According to a recent social media response, Schwartz made this disclosure after a user claimed that early adopters entered the market at $0.50.
The comment sparked immediate attention due to the unusually low price point, which suggests Schwartz was involved with XRP long before most traders. Entering XRP at a price of $0.006 during its initial trading stages, well before mainstream interest, signals early involvement.
Schwartz has been involved in Ripple and the XRP Ledger since its inception. Unlike his counterparts, he did not receive a large share of XRP as compensation. Instead, he was given a salary and a 2 percent interest in the company.
His strategy differed from that of Ripple co-founders Chris Larsen and Jed McCaleb in terms of ownership of a huge chunk of XRP. McCaleb sold off his XRP and subsequently started the Stellar project, while Larsen remains an executive at Ripple.
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CTO’s Comment Sheds Light on XRP’s Early Days
The recent comment not only confirmed Schwartz’s early investment but also drew attention to his long-term dedication to Ripple’s technology. As the chief architect behind the XRP Ledger, he has remained closely connected to the project’s evolution over the years.
Schwartz also revealed in the past that his father bought over a million XRP in 2014 at an even lower price of $0.005. Nevertheless, he failed to mention the quantity of XRP he had personally purchased or the number he might have bought afterward. This confusion has also given rise to speculation regarding the magnitude of his current position.
Community reactions to the $0.006 disclosure were swift, with many expressing surprise at how early Schwartz was involved. Although many people strongly considered the cost of entry to be at one level ($0.50), his level of entry has brought that figure down.
David Schwartz’s revelation has given us a rare look at the early monetary decision of a top Ripple executive. His coming into XRP when it was at a price of 0.006, combined with his technical role in the project, seals his strong affiliation to the project.
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