Ripple CTO Shares His Bold Investment Moves
XRP’s price is rising, and Ripple seems set for a positive turn. Ripple’s CTO, David Schwartz, shared some inside information. He publicly drooled over Ripple shares more than XRP. The real cause behind the move is analyzed.
CTO Crossover Could Hurt XRP?
Ripple boasts a substantial 46.55 billion XRP, accounting for about 46.5% of the total supply. They have 5.258 billion XRP ready for use and 41.3 billion XRP securely locked away. Ripple sold almost 892 million XRP in the Q3 2023 report, causing concern that these sales might be impacting XRP prices negatively.
Schwartz clarified that it’s not a straightforward decision. He outlined two primary choices: holding onto the XRP or systematically selling it off, emphasizing the company’s goal to swiftly reduce its holdings. When the idea of burning the escrow was raised, Schwartz expressed skepticism, stating it wouldn’t bring any tangible benefits.
He recently said that he chose Ripple shares over XRP. Currently, Ripple’s shares are worth about $11.3 billion, and the company wants to buy them back for $285 million. Brad Garlinghouse, the CEO of Ripple, made it clear that the company has no quick plans for an initial public offering (IPO).
Hot Take
Ripple’s CTO David Schwartz has raised some eyebrows with his bold investment moves. His decision to prioritize Ripple shares over XRP has stirred up some concern and debate within the community. It remains to be seen how this choice will impact Ripple’s fortunes in the long run.
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