Ripple CTO: I Would Say “Buy Bitcoin”

Ripple's Chief Technology Officer, David Schwartz, recently generated discussion within the cryptocurrency community by humorously stating he would avoid advising his younger self to buy XRP, suggesting such advice could lead to a paradox. His comments emerged during an online exchange that initially centered on early cryptocurrency investments.

Schwartz's Hypothetical Advice to His Younger Self

The conversation began when CoinDesk published a social media post posing the question: if one could speak three words to their 18-year-old self, what would they say? The outlet's intern offered the advice "buy more crypto," which then prompted various industry figures to share their own perspectives.

Schwartz joined the discussion by stating his chosen words would be "2010 Bitcoin 100,000." This implied that, if given the opportunity, he would instruct his younger self to purchase 100,000 BTC in 2010, a time when Bitcoin was largely unknown and trading at only a few cents per coin.

During that year, Bitcoin's highest price reached approximately $0.39. This means 100,000 BTC could have been acquired for less than $39,000. At current valuations, such an investment would be worth over $11 billion, highlighting the immense opportunity present in Bitcoin's nascent stages.

Community Questions: Why Not XRP?

Although Schwartz's comment was intended humorously, it drew the attention of XRP supporters who questioned why he, a key figure in Ripple's development, would choose Bitcoin over XRP. One member of the community directly asked him, "What about XRP?"

Similar to Bitcoin, XRP also presented significant accumulation opportunities during its early years. Historical data indicates that in July 2014, XRP was trading around $0.0028.

If the same $39,000 had been invested in XRP at that time, it would have secured approximately 13.9 million tokens. Today, these tokens would be valued at about $36 million. While this represents a substantial return, it falls considerably short of the gains early Bitcoin investors would have realized.

Schwartz Reflects on His Real XRP Decision

Schwartz has previously acknowledged that his actual investment decisions might have deviated from ideal outcomes. In January, he revealed that he had chosen to acquire Ripple equity instead of XRP tokens during the company's early stages.

Reflecting on this, he admitted that he sometimes questions that choice, noting that XRP would have been "more liquid" compared to Ripple's privately held shares.

Considering this background, one might expect Schwartz to seize any opportunity to alter that decision. However, when directly asked why he wouldn't advise his younger self to buy XRP, he offered a humorous yet insightful response: XRP is too directly linked to his own work at Ripple, and advising himself on it could create a paradox.

While informal, Schwartz's remarks highlight the divergent trajectories of Bitcoin and XRP over time. His response underscores Bitcoin's unparalleled early returns while also touching upon the limitations and complexities associated with XRP's origins, particularly for those directly involved in its creation.

The conversation, though casual, provided insight into Schwartz's reflections on early crypto opportunities, as well as his awareness of the ethical and logical considerations that arise when contemplating "what if" scenarios within a market still significantly shaped by its pioneers.