David Schwartz, Ripple’s CTO, recently shared some interesting details about his early days in the crypto world. He revealed both his incredibly low XRP entry price and how many Bitcoins he mined years ago.
An Amazing XRP Deal
Schwartz surprised the XRP community by revealing he bought XRP for just $0.006! That’s way below the $0.50 many early investors paid. He didn’t say exactly how much he bought, but the fact that he got in so early sparked a lot of conversation. He didn’t get a huge initial allocation of XRP like some others at Ripple; instead, he took a salary and 2% company equity. This wasn’t the first time he shared such info; he previously mentioned his father bought over a million XRP in 2014 at $0.005. With XRP currently trading around $2.27, that’s a pretty amazing return!
Bitcoin Mining in 2011
Schwartz also talked about his early Bitcoin days. He mined 250 Bitcoins back in 2011, when Bitcoin was around $30. Mining was much easier then; you could do it with relatively simple hardware. He even mined when Bitcoin briefly dipped to $2.50. He later sold those Bitcoins to buy XRP and Ethereum, believing in their scalability and sustainability compared to Bitcoin’s energy-intensive process. Considering Bitcoin’s current price of around $109,040, that’s a massive difference!