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- Ripple’s CTO David Schwartz said he sold 40K ETH at $1, shortly before the worth of the assets grew to over $100 million.
- He said his father made a similar decision after he sold his Apple stock, which increased five times after.
- Since its creation, Ethereum’s price has increased by 83644.79%, while Bitcoin has grown by 71084693.20%.
In a report not uncommon in the cryptocurrency space, Ripple’s Chief Technology Officer David Schwartz recently disclosed how an early sale of his Ethereum assets led to him missing out on over $100 million.
In the post shared on X, Schwartz tweeted that he “sold 40,000 ETH at about $1 to put solar panels on a house I no longer own.” Within a short while, the CTO stated that the 40K ETH grew to over $100 million in worth.
While drawing parallels between his action and his father’s, Schwartz stated that his father made a similar investment decision. As noted in the series of tweets, Schwartz said his father sold his Apple stock portfolio to fund the purchase and renovation of a new house.
Like the ETH, which saw a tremendous surge in value after the sale, the CTO said Apple stock also went up five times its price after his father sold it. “Like father, like son, I guess,” Schwartz concluded.
The CTO’s post highlights the sporadic rate at which cryptocurrency assets have grown over the years. Leading cryptocurrency network Bitcoin, for instance, has increased by 71084693.20% since its creation, with many experts calling it the asset with the largest return ever. Likewise, the second-placed cryptocurrency by market cap, Ethereum, has surged by over 83644.79% since its development.
Meanwhile, following the recent ETF-fueled market resurgence, analysts are predicting Bitcoin and Ethereum will add tremendous gains to their prices. Already, Bitcoin has rallied over 150% this year to sit at $43K level. Experts predict the token could finish 2024 with a new all-time high of $100K.
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