According to U.Today, Ripple's Chief Technology Officer (CTO), David Schwartz, recently shared his thoughts on cryptocurrency holding and selling strategies. Schwartz, who was an early investor in Bitcoin, revealed his personal approach to managing his Bitcoin holdings. He stated that he would sell Bitcoin whenever he needed to cover expenses such as taxes or purchasing a new computer. This strategy, he explained, was common among early Bitcoin investors and miners.
During Bitcoin's initial significant bull run, Schwartz noted that many companies started accepting the cryptocurrency as payment. This trend was driven by early miners and buyers liquidating their holdings to cover real-world expenses. Schwartz said, 'More and more companies were taking Bitcoin during the first big bull run precisely because this was what everyone long (early miners/buyers) was doing.'
Schwartz also sparked a discussion about the concept of being 'long' on a particular cryptocurrency. He proposed a scenario involving two hypothetical Bitcoin holders: Alice, who has recently sold a lot of Bitcoin, and Bill, who has not sold any. He asked, 'Which is more likely to be very long Bitcoin?' He then elaborated, 'The whole time you are slowly both acquiring and selling, you are long. Someone who constantly keeps selling a lot must either be very long or constantly buying.' However, Schwartz agreed that selling all holdings represents an exit rather than being 'long.'
Schwartz also shared some insights about his XRP and BTC holdings. He disclosed that he had sold some of his Bitcoin holdings in the past and that at the peak of his holdings, he had around 26 million XRP.
