David Schwartz, Ripple's CTO Emeritus, recently reminisced about selling 40,000 ETH at $1.05 each, a decision he described as feeling like an "investment genius." Schwartz acquired the ETH stash for 20 BTC, invited by Ethereum's Buterin during the altcoin's early days. His sale netted $42,000, a 321% return, which he used to buy solar panels for his Oakland home.
Despite the significant profit, Schwartz noted that he no longer owns the house where the panels were installed. He continues to hold Bitcoin, ETH, and various altcoins, though his exact net worth remains undisclosed, potentially ranging from $90 million to $500 million, largely dependent on his Ripple stake.
Ripple CTO Emeritus Reflects on Selling 40,000 ETH at $1.05
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