Ripple Chief Technology Emeritus Officer David “JoelKatz” Schwartz has admitted to intentionally holding back his true optimism regarding $XRP and the broader digital asset market.
Schwartz is hesitant to share his opinions because his enthusiasm could be misconstrued as market manipulation.
Known for his candid interactions with the crypto community, the Ripple veteran recently expressed regret over the stifling effect his prominent position has on his ability to speak freely.
“It’s kind of sad that I don’t feel comfortable sharing my optimism about $XRP (and even, to some extent, cryptocurrencies generally) because it could be perceived as self-serving or, worse, deliberate manipulation,” Schwartz shared on X.
The statement highlights the delicate tightrope industry executives must walk, where genuine bullishness is frequently attacked by critics as an attempt to artificially pump their own bags.
Defending the right to sell
Schwartz’s hesitation to express optimism is closely tied to the intense scrutiny he receives whenever he discusses his personal portfolio (specifically his history of selling crypto assets).
In an industry dominated by a “diamond hands” culture that shames taking profits, Schwartz has always been a vocal proponent of pragmatic risk management.
Defending his past decisions to sell off portions of his $XRP, Bitcoin, and Ethereum, Schwartz noted that the market is a level playing field.
“Everyone had the same opportunity to buy and sell $XRP that I did. I did the same thing with bitcoin and ETH and nobody seems to have a problem with that,” he explained. “I utterly reject the idea that selling is somehow morally inferior to buying and have advocated that everyone sell when it’s in their personal financial interest to do so.”
He further noted that the rejection of self-sacrificial financial behavior was what initially attracted him to the early Bitcoin community in the first place.
Schwartz has never shied away from discussing his missed windfalls, viewing them as the cost of managing risk. He famously traded Bitcoin for 26 million $XRP, only to sell a significant portion of it when the price hit $0.10. At the time, holding millions of dollars in a highly volatile, unproven asset made him deeply uncomfortable.
