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David Schwartz, Ripple’s Chief Technology Officer (CTO), revealed on Twitter that he is an XRP whale, with more than a million coins in his possession.
According to a tweet posted on November 24, Schwartz says he owns between one million ($ 660,000) and ten million XRP ($ 6.6 million), giving the CTO a substantial position.
Earlier in the month, Schwartz leaked more information about his cryptocurrency portfolio and trading habits. The Ripple executive explained in a Quora post that he lost a significant amount of money trading altcoins which ultimately proved “useless”.
He said:
Here are just a few cryptocurrencies I bought that I ultimately had to deem worthless:
TIX, DICE, FLASH, VEZT, AMP, SIG, BEE, KIND, PRYZE, KUDOS, NRN
My total losses, just on tokens that become completely useless, are just over $ 300,000.
Schwartz said he is overall positive in his cryptocurrency investments, but not immune to occasional bad trading.
Schwartz also revealed in a tweet last month that he sold Bitcoin for $ 750 and Ether for $ 1 as part of a risk reduction plan he established in 2012 with his wife.
Featured Image Credit: Photo via Pixabay.com
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