The CTO of Ripple has sold all his bitcoins
The CTO of Ripple has sold all his bitcoins
Crypto

The CTO of Ripple has sold all his bitcoins

By Alfredo de Candia - 30 Jun 2020

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In the last few hours, Twitter has been hosting a discussion between several exponents from the blockchain world, including Adam Back, Nik Bougalis and the CTO of Ripple, David Schwartz, who said he sold all his bitcoins.

The post leaves no room for interpretation.

But let’s go in order, and start with the discussion that was initiated by Nik Bougalis, director of Ripple, who explained that he agreed with Adam Back‘s definition of Bitcoin.

According to the two, in fact, BTC is a decentralized digital commodity and without a founder, so it is more of a store of value rather than a payment system, although according to many people the original idea of bitcoin was to be an alternative payment system.

As the discussion continued, the various exponents from the crypto world talked about Satoshi Nakamoto’s identity while the CTO of Ripple commented that he had millions of bitcoins but he lost his access keys.

And it was here that Adam Back, CEO of Blockstream, asked him whether he was pro BTC or not.

We’ve seen the answer, but on the other hand, David Schwartz says he’s still bullish on bitcoin, even though he thinks it’s too risky an asset. For this reason, he would have made the decision to sell all his bitcoins over the years.

Some users have pointed out that, if it is true that he sold BTC because they are risky, now he should sell his XRP, a clear rhetorical message in reference to what is happening with Ripple.

Every first of the month, in fact, 1 billion XRP are unlocked ready to be sold on the market – precisely tomorrow the next 9-digit transaction will take place.

This, according to some studies, does not allow the price of Ripple to rise above a certain threshold, as the market is flooded with XRP.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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