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.
Nope. I've been slowly selling bitcoin for the past several years.
— David Schwartz (@JoelKatz) June 29, 2020
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.
But aren't you pro-BTC and converting XRP into Bitcoin?
— Adam Back (@adam3us) June 28, 2020
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.