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David Schwartz, the honorary Chief Technology Officer of Ripple, revealed that he feels burdened to publicly express optimistic views on XRP and the cryptocurrency market. This is because his positive remarks, given his position as a key figure at Ripple, could be perceived as self-serving or market manipulation.
According to U.Today, a cryptocurrency news outlet, on May 7 (local time), Schwartz expressed on X (formerly Twitter) his bitterness about not being able to freely share his optimism about XRP and cryptocurrencies in general. He explained that he hesitates to speak publicly because his optimistic views could be misunderstood as selfish statements or intentional manipulation.
Schwartz has played a key role at Ripple for a long time. U.Today reported that Schwartz expressed regret over the difficulty of freely expressing his opinions due to his influential position within Ripple. The act of stating a positive outlook on XRP itself could be seen as an attempt to influence the market, which acts as a burden.
The background to this statement includes criticism surrounding Schwartz's history of selling personal assets. U.Today explained that there is a strong 'diamond hands' culture in the cryptocurrency industry, and Schwartz has been repeatedly attacked for his past decision to sell cryptocurrencies amidst a negative perception of profit-taking.
Schwartz has defended his past decision to sell some of his XRP, Bitcoin (BTC), and Ethereum (ETH). He pointed out that anyone had the same opportunity to buy and sell XRP as he did, and that he sold Bitcoin and Ethereum in the same way, but those instances were not questioned. He also completely rejects the idea that selling is morally inferior to buying, arguing that one should sell when it aligns with their personal financial interests.
He also stated that the culture rejecting self-sacrificing financial behavior was why he was drawn to the early Bitcoin community. Schwartz explained that he views past missed significant profit opportunities as the cost of risk management. He is also well-known for once exchanging Bitcoin for 26 million XRP but selling a significant portion when the XRP price reached $0.10. Schwartz stated that he felt great discomfort holding millions of dollars worth of highly volatile assets.
*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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