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CryptoPotato1 min read
Ripple CTO Emeritus on ETH Decision: 'Even 1% Chance Would Have Changed Everything'
TL;DR
Ripple CTO Emeritus David Schwartz reflected on selling 40,000 ETH at $1.05, stating that even a 1% chance of ETH reaching $2,368 would have changed his decision. He sold the ETH to invest in solar panels, shortly before the price began to rise significantly.
Key points
- David Schwartz sold 40,000 ETH at $1.05 each
- He initially bought the ETH at $0.311
- He would have reconsidered selling if he thought there was a 1% chance of ETH hitting $2,368
Mentioned in this story
David Schwartz
In a recent discussion on X, Ripple CTO Emeritus David Schwartz reflected on his early Ethereum exit. An X user had retold Schwartz's story of selling his ETH holdings for $1.05 each and that the Ripple CTO Emeritus wouldn't have sold if he thought there was a 1% chance of ETH hitting $2,368.
Schwartz famously sold a total of 40,000 ETH when the second largest cryptocurrency was trading at just $1.05. The Ripple CTO Emeritus initially bought the 40,000 ETH tokens at $0.311 and sold because he thought the token had reached its top. The proceeds were used to purchase a set of solar panels that he installed at his home in Oakland, California. Shortly after this, the ETH price started rising.
In response to the X user, Schwartz responded that a 1% chance of his knowing the ETH price would rise might have made a difference and he would not have sold it for $1.05. To him, the odds of ETH reaching $2,368 weren't just there.
If I had thought there was a 1% chance of it hitting $2,368, I would not have sold it for $1.05. I'm still not sure the odds of that happening really were more than 1% at the time. 😉
— David 'JoelKatz' Schwartz (@JoelKatz) May 4, 2026
"If I had thought there was a 1% chance of it hitting $2,368, I would not have sold it for $1.05. I'm still not sure the odds of that happening really were more than 1% at the time," Schwartz said.
Schwartz stated that, to be entirely fair in his own view, at least a small part of his reasoning is that since ETH had bounced between $0.70 and $1.00 a few times, he figured that he would sell when it next hit $1 and maybe buy back in when it dropped. Before he knew it, he sold at $1.05 and shortly afterwards, ETH price rose to $12. Schwartz was confident that this was the top, so he never considered buying back in. Then Ethereum shot up to $2,000.
Ripple CTO emeritus discusses crypto holdings
Schwartz frequently shares information about his personal crypto holdings. In a recent response to X users who inquired about his holdings, the Ripple CTO Emeritus says he still holds Bitcoin and Ethereum, although not substantial amounts, but a significant quantity of XRP.
Q&A
What did David Schwartz say about selling his ETH holdings?
David Schwartz mentioned that if he had believed there was a 1% chance of ETH reaching $2,368, he would not have sold his holdings for $1.05.
How much ETH did David Schwartz sell and at what price?
David Schwartz sold a total of 40,000 ETH at a price of $1.05 each.
What did Schwartz use the proceeds from his ETH sale for?
He used the proceeds from selling his ETH to purchase solar panels for his home in Oakland, California.
