David Schwartz Reveals Selling 40K ETH at $1 and Exiting BTC Early

TLDR

Table of Contents

Schwartz sold all 40,000 ETH at $1.05 before Ethereum’s major price rise.
He exited Bitcoin before it crossed $7,500, likely below $1,000.
He clarified the trades to stop ongoing speculation in the XRP community.
Schwartz reminded followers not to treat social media as financial advice.

David Schwartz, former Ripple CTO and a key developer of the XRP Ledger, has clarified years of speculation about his early Bitcoin and Ethereum trades. Speaking candidly, he confirmed selling 40,000 ETH at $1.05 and exiting Bitcoin before it reached $7,500 — possibly even under $1,000. The revelation settles years of discussion in the crypto community and offers a reminder that not every early investor maximized gains.

Schwartz Reveals Price Points of His Bitcoin and Ethereum Exits

David Schwartz, former Chief Technology Officer at Ripple, has publicly addressed the long-discussed sales of his early Bitcoin and Ethereum holdings. Known for his role in building the XRP Ledger, Schwartz confirmed that he sold 40,000 ETH at a price of $1.05. This disclosure confirms longstanding community rumors, which had circulated for years without clear answers.

I sold all my ETH at $1.05. I'm not sure what fraction of my bitcoin I sold at what prices, but I'm pretty sure I sold nearly all of it by $7,500 and probably most of it by $1,000.
I was just as successful as I tried to be. There might be a lesson in there.
— David 'JoelKatz' Schwartz (@JoelKatz) February 1, 2026

In addition, Schwartz revealed that he exited most of his Bitcoin holdings before the asset crossed $7,500. He mentioned that he does not remember the full breakdown but believes the majority of the sale happened even before Bitcoin reached $1,000. “I don’t recall the exact breakdown,” he shared, but added that his early sale was due to personal reasons and caution during crypto’s early stages.

The Reason Behind Early Sales and Market Uncertainty

Schwartz explained that his decision to sell was influenced by financial security concerns rather than price speculation. During Bitcoin’s early days, market volatility and regulatory uncertainty led many early adopters to secure gains rather than risk holding long term. This was especially common during times labeled as “crypto winter.”

His Ethereum sale, in particular, drew attention due to the scale — 40,000 ETH — and the low exit price. ETH is currently trading at values thousands of times higher, making this sale a regular topic in online discussions. However, Schwartz clarified that he never aimed to be a trader or investor, and his focus remained on technology development.

No Financial Advice Intended for XRP Community

With ongoing market pressure and XRP also experiencing major sell-offs, Schwartz appeared to use this moment to remind the crypto community to be cautious. He did not intend his trade history as financial guidance and warned against following trading decisions shared on social media without careful thought.

“This is not financial advice,” Schwartz stated clearly. His aim was to clarify rumors and avoid being misrepresented as a trading authority. Instead, he encouraged followers to think independently, especially in unpredictable market conditions.

A Reminder That Not All Early Builders Became Rich

Although he was an early participant in both Bitcoin and Ethereum, Schwartz reminded the public that not every early adopter became wealthy. He built foundational blockchain systems and contributed to core technologies. Yet, like many developers, his gains were limited compared to traders who held assets through bull cycles.

Sometimes on X (formerly Twitter), Schwartz teases the audience with puzzles or clues, though these are usually for fun rather than market predictions. He noted that some users try to find hidden meanings in his posts, which he considers unnecessary.

Through this public statement, David Schwartz helped close a long-standing chapter in crypto speculation. His story offers a real-world example of how building technology and earning profit can follow different paths in the crypto world.