David Schwartz, the former Chief Technology Officer of Ripple, has labeled cryptocurrency a “once-in-a-generation” chance to build wealth. Known on social media as JoelKatz, the longtime Ripple executive made the remark while explaining his personal decision to sell his Ethereum holdings at a relatively low price.
Schwartz disclosed that despite the bullish long-term outlook he expressed, he has shifted the majority of his personal wealth out of digital assets. The move, he said, was made to help him “sleep better at night,” a confession that adds a layer of nuance to his public endorsement of the sector.
The executive offered this perspective while defending his past decision to sell Ethereum (ETH) at a price he did not specify. The admission highlights the tension between strategic conviction and personal risk management, even among insiders who helped build the industry.
This revelation comes as the broader market remains volatile, with many retail investors eyeing crypto as a path to financial independence. Schwartz's comments serve as a reminder that even longtime advocates temper their exposure based on individual risk tolerance.
Observers note that the statement reflects a common paradox in the crypto space: the belief in transformative potential versus the practical need to secure personal finances. Whether others follow Schwartz's lead remains an open question.