U.Today – In a recent and somewhat unexpected Bitcoin-related post, CTO David Schwartz clarified his thoughts on cryptocurrency holding and selling strategies.
Schwartz shared an insight into his personal holdings, shedding light on the behavior of early Bitcoin investors, particularly those from the early days of the cryptocurrency's boom.
Ripple's CTO stated: “When I had a lot of Bitcoin, I sold when I needed something: pay taxes, buy a new computer, etc.,” shedding light on his crypto strategy.
During Bitcoin's first significant bull run, many companies began accepting it as payment, and Schwartz highlighted a trend of early miners and buyers liquidating their holdings to cover real-world expenses.
“More and more companies were adopting Bitcoin during the first big bull run precisely because this is what everyone (early miners/buyers) was doing,” Schwartz noted.
To stoke the discourse, Schwartz had previously posed a thought-provoking scenario involving two hypothetical Bitcoin holders: Alice, who recently sold a large amount of Bitcoin, and Bill, who sold none. The question posed was: “Which is most likely to be a very long Bitcoin?”
This question sparked a long discussion thread on X, as it addressed the essence of what it means to be “long” in a particular cryptocurrency.
In response to the speculation sparked by his initial post, Schwartz explained: “The whole time you are buying and selling slowly, you are long. Someone who is constantly selling a lot must be either very long or buying constantly.”
Schwartz, however, agreed with the premise that the timing of all holdings being sold represents an exit rather than a “long” position.
As previously reported, Schwartz revealed some insights into his XRP and BTC holdings. Schwartz revealed that he sold some Bitcoin (BTC) holdings in the past and that at the peak of his holdings, he had around 26 million XRP.
This article was originally published on U.Today.
