David Schwartz Says Selling XRP Doesn’t Make Him The Villain

David Schwartz once sold 40,000 Ethereum tokens for $1.05 each. That trade netted him $42,000. Those same tokens are worth roughly $94 million today.

Those disclosures have drawn scrutiny from corners of the XRP community, with some pointing to his early exits as evidence of poor judgment.

Everyone had the same opportunity to buy and sell XRP that I did. I did the same thing with bitcoin and ETH and nobody seems to have a problem with that. I utterly reject the idea that selling is somehow morally inferior to buying and have advocated that everyone sell when it’s…

According to Schwartz, every investor had the same chance to buy and sell XRP that he did. He also noted that he applied the same approach to Bitcoin and Ethereum, and that neither of those sales drew the same level of backlash.

One community member argued that builders have a duty to hold the tokens tied to their projects. Schwartz rejected that reasoning outright, calling it illogical. He did confirm, though, that he still holds more than 1 million XRP.

On the price debate, Schwartz offered a market-based argument. Based on reports from his recent posts, he said that if a group of wealthy investors truly believed XRP had even a 1% chance of hitting $10,000, they would have already piled in. That buying pressure, he argued, would have pushed the price to at least $20 by now.

Some community members aren’t buying it. They point to his earlier skepticism about $0.25 — a level XRP has since surpassed — as a reason to question his current read on the asset’s ceiling.

Schwartz has not walked back his position.

Featured image from Bitpanda, chart from TradingView