Ripple chief technology officer (CTO) David Schwartz revealed on Twitter that he is an XRP whale, with more than one million coins in his possession.
According to a tweet published on November 24, Schwartz claims to own between one million ($660,000) and ten million XRP ($6.6 million), giving the CTO a substantial position.
Earlier in the month, Schwartz divulged more information about his crypto portfolio and trading habits. The Ripple executive explained in a Quora post that he had lost a significant amount of money trading altcoins which ultimately proved to be “worthless.”
He said:
Here are just a few cryptocurrencies that I bought that I ultimately had to write off as worthless:
TIX, DICE, FLASH, VEZT, AMP, SIG, BEE, KIND, PRYZE, KUDOS, NRN
My total losses, just on tokens that become completely worthless, is just over $300,000.
Schwartz said he was overall net positive in his crypto-asset investments, but not immune to the occasional bad trade.
Schwartz also revealed in a tweet last month that he sold Bitcoin for $750 and Ether for $1 as part of a de-risking plan he established in 2012 alongside his wife.
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