In a recent post on the X social media network, Ripple CTO Emeritus David Schwartz recalled that he had felt like an “investment genius” after famously selling a total of 40,000 ETH when the leading cryptocurrency was trading at just $1.05
Schwarz was personally invited by Ethereum’s Buterin to take part in the launch of the red-hot altcoin
The architect behind the XRP Ledger wanted to show some support for the project and handed over a total of 20 BTC. This sum allowed Schwartz to buy the entire stash
HOT Stories
Ripple CEO Urges Banks to Act in Good Faith
Crypto Market Review: Bitcoin’s $70,000 Guarded Like Treasure, Will Shiba Inu Have Bullish March? Ethereum Breaks Above 100-Day Threshold
Schwartz initially bought the 40,000 ETH tokens at $0.311 and ended up walking away with a rather impressive return of 321%. The sale netted him a total of $42,000. Shortly after this, the price of the token would end up going parabolic
The proceeds were used by Schwartz to purchase a set of solar panels that he installed at his home in Oakland, California
Notably, Schwartz does not even own that house anymore, according to his latest tweet
Schwartz’s current net worth
Schwartz frequently shares information about his personal crypto holdings, which sets him apart from the rest of the Ripple executives
He has confirmed that he continues to hold both Bitcoin (BTC) and ETH, as well as several altcoins
The Ripple CEO previously claimed tha that he owned roughly 20 million XRPs, which was the biggest sum of the tokens that he has held at any point.
That said, the exact size of his net worth is unknown (it could be anywhere from $90 million to $500 million). It mainly depends on the value of his stake in Ripple. Schwartz famously opted for a 2% stake in the company instead of XRP holdings
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
On-chain activity is exploding, but Ethereum can't seem to gain momentum? Experts reveal the "fatal weakness": could drop to $1,500
CryptoQuant reports indicate that Ethereum faces an "adoption paradox," where despite network activity reaching new highs, the token price has declined. If the bear market continues, Ether could potentially fall to $1,500 by the end of the third quarter. Smart contract activity has risen while decoupling from Ether's price, with exchange inflows being a better reflection of price dynamics. Weak investment demand and continuous capital outflows remain the primary concern.
区块客32m ago
Still thinking blockchain transaction fees are expensive? Ethereum gas drops to 0.01 gwei, hitting historic lows
Ethereum's Gas fees have dropped to 0.045 Gwei, with transaction costs declining to approximately $0.01, indicating a significant reduction in fees. This is related to Layer 2 scaling solutions and network architecture adjustments, which have transformed the mainnet into a secure settlement layer. Despite continued market price pressure, activity across the Ethereum ecosystem continues to grow, demonstrating undiminished usage demand.
CryptoCity42m ago
Vitalik Proposes Establishing a Secret Voice Command Silent Alarm System to Combat Crimes Targeting Cryptocurrency Holders
Ethereum founder Vitalik Buterin has suggested a low-cost alert tool that allows users to set a secret phrase, enabling their device to automatically call for police assistance upon recognition. This proposal is particularly suitable for cryptocurrency holders, enhancing security and reducing the risk of kidnapping or robbery.
GateNews46m ago
Vitalik Buterin Proposes "Duress Code" Security Solution to Protect Cryptocurrency Holders from Robbery
Ethereum co-founder Vitalik Buterin has proposed a new personal security solution that enhances the safety of cryptocurrency holders through a "duress code alert mechanism." Users can set a duress code in smart devices that, when triggered, automatically calls emergency services and transmits location information, thereby increasing rescue probability and reducing risks of kidnapping and robbery. This solution emphasizes passive triggering to protect civil liberties and reduce the potential for government surveillance, potentially offering new security protection ideas for crypto asset users.
GateNews56m ago
CryptoQuant Warns of Ethereum 'Adoption Paradox' as Vitalik Outlines Three Core Functions
Ethereum is facing an "adoption paradox" where record-high network activity has diverged from ether's price performance, potentially leading to further downside toward $1,500 by late 2026 if bear market conditions persist, according to onchain analytics firm CryptoQuant.
CryptopulseElite1h ago
