Recently, the Chief Technology Officer of one of the largest cryptocurrency, Ripple (XRP), David Schwartz told his sad story to the world. He stated that back in 2012, he and his wife made a decision that they regret making to this day. David told that it was 2012 when he and his wife went with a de-risking plan concerning their cryptocurrency investments.
David said that it was this decision that led them in missing millions of dollars’ worth of profits if they had not sold the cryptocurrencies in their possession.
David Shwartz made several tweets about this loss he and his wife incurred for being too cautious and doubting the future of cryptocurrencies. He added that he sold 40,000 Ether (ETH) that he owned for a sum of $40k ($1 each). Sharing his regret, he said that if he were to sell those coins now, he would have made around $15.5 million.
He also revealed that it was not only Ethereum (ETH) he had in his possession that he sold. He told me that he even had Bitcoin (BTC) and Ripple (XRP) in his possession that he regrets selling. Although he did not reveal the actual quantity of the Bitcoin (BTC) and Ripple (XRP) he had, he did tell how much he sold them for.
David told that he sold a decent amount of Bitcoin (BTC) for $750 per BTC and a huge volume of Ripple (XRP) that he sold for $0.10 per XRP back in 2012.
It was later tweeted by one of his followers sharing their concern around the revelation made by David Schwartz. The follower tweeted that “how can the crypto-running bodies expect users to have faith in cryptocurrencies if they themselves have none in cryptocurrencies?”
However, David Schwartz replied back to the follower with his own explanation. He stated that the people who have and currently work with him know very well that he does not get along with the idea of risking.
He also stated that in 2012, the future of cryptocurrencies was not as promising as it is today so he did what appeared to be the best option back in 2012.