Ripple CTO David Schwartz Regrets Selling 40,000 ETH for $1 Each

• David Schwartz sold 40,000 ETH at $1.05, using the funds to purchase solar panels for a house he no longer owns.
• The ETH stash he sold for $42,000 would have been worth $100 million at Ethereum’s peak price.
• Schwartz remains open about his crypto investment decisions, sparking discussions on long-term holding strategies in the crypto community.

Ripple’s Chief Technology Officer, David Schwartz, recently opened up about a decision that continues to haunt him. In a discussion on X, Schwartz revealed that selling 40,000 ETH at $1.05 remains one of his biggest financial regrets in the crypto space.

Schwartz disclosed that during Ethereum’s pre-ICO era, he acquired 40,000 ETH by investing 20 BTC. Ethereum’s founder, Vitalik Buterin, personally invited him to participate in the project, and Schwartz readily invested, believing in its potential. However, he later sold his entire ETH holdings for approximately $42,000 when Ethereum was trading at around $1 per token. He used the proceeds to purchase solar panels for a home he no longer owns.

ETH’s Massive Price Surge Highlights the Missed Opportunity

Ethereum’s exponential price rise over the years has made this sale a painful memory for Schwartz. At Ethereum’s peak value, the same 40,000 ETH would have been worth around $100 million. His revelation triggered reactions from the crypto community, with many expressing shock at the financial opportunity lost.

Schwartz’s admission sparked discussions among crypto enthusiasts on X. Many users reflected on their own missed opportunities in the market. One user humorously asked Schwartz about the solar panels, while others emphasized the significance of long-term holding strategies in the volatile crypto industry.

Schwartz Previously Sold Bitcoin for XRP and ETH

This is not the first time Schwartz has been transparent about his crypto investment history. He previously acknowledged selling portions of his Bitcoin holdings to acquire XRP and Ethereum, rather than diversifying into other digital assets. Despite his ETH regret, he remains one of the most influential figures in the blockchain industry.

Schwartz’s candid discussions about his past decisions continue to engage the crypto community. His experience serves as a reminder of the unpredictable nature of cryptocurrency investments. While the regret of selling ETH too early lingers, Schwartz remains a key figure in the evolving landscape of digital assets.