The chief technology officer of Ripple, David Schwartz, it justifies the reasons why he, and many executives of the company, remain as a buyer of Bitcoin (BTC).
Ripple and XRP seem to be lost
What is surprising here is that these same characters have not been given the same statements optimistic with respect to XRP. The criptomoneda that Ripple has created, but according to them they do not drive, taking more than 80% of the total supply available. Recently, as reported in CriptoTendencia, XRP lost the third place, for a few hours, at the hands of Tether (USDT). Due to the ongoing massive sales of XRP to fund its operations.
David Schwartz of Ripple is kept long in Bitcoin
In a series of tweets, Schwartz expressed that the regulatory uncertainty global is preventing Ripple predict the price movements for the third criptomoneda largest by market capitalization, XRP.
Global regulatory uncertainty. It should be enough just to be thoroughly honest, but unfortunately it isn’t.— David Schwartz (@JoelKatz) May 20, 2020
Ripple has more than half of the total supply of XRP and is actively working to grow its ecosystem through investments in the crypto-verse. In addition, it has also gained a foothold in the world of traditional payments through their remittances platform based on XRP, xRapid. Schwartz, who is one of the original architects of XRP Ledger and current chief technology officer of Ripple, says that the company is acting with caution due to its immense market power. This, in the light of claims that allege that the company sold illegally the digital asset as an asset not registered in many international jurisdictions.
I don’t want to assume anything, JK. Are you saying that Ripple employees are not long XRP because of the uncertainty of where global regulations may land on whether or not it’s a security?— CryptoPennyCO ????♂️ 2025 (@CryptoPennyCO) May 20, 2020
Schwartz of Ripple, who started mining Bitcoin in 2011, says he has sold a large part of their hodls in BTC. It now owns 5% of the BTC that has ever had. In August 2019, Schwartz said he still has a “significant fraction” of the XRP that has accumulated over the years. Is it true?
Ripple in a difficult position
Do you think that is the end of XRP in the top 5, and increasingly staying away from Bitcoin? Or you can Ripple make the price of your criptomoneda does not have a so poor performance? The price of XRP has gone down 95% since its historical price. Ripple steadily releases large amounts of XRP from the escrow accounts, which increases your supply. This gives XRP an inflation rate of 20%, much higher than the cryptocurrencies rivals. XRP, Ripple and Schwartz are in a difficult position.