Recently, Ripple CTO David Schwartz revealed that he has owed his sister 2.77904 BTC for years.
On Monday, Schwartz wrote on Twitter that he has his sister paid for a plane ticket for him and asked to be repaid in Bitcoin. Interestingly, even though Schwartz has “reminded her a few times that it’s real money now” (2.77904 BTC is roughly worth $106,000 at current prices), she “she keeps not collecting.”
I've owed my sister 2.77904 BTC for years now (she paid for a plane ticket for me and wanted me to pay her in bitcoin). I've reminded her a few times that it's real money now and she keeps not collecting.
— David Schwartz (@JoelKatz) February 1, 2021
Here is the Ripple CTO explaining why his sister wanted to be repaid in Bitcoin:
“I think I offered her dollars, XRP, or bitcoin and she chose bitcoin, but I don’t remember for sure. I think she had a bitcoin wallet at the time in her phone and asked me to take it over either to handle the BCH split or when her phone broke and she never set it up again.
“I think I owed her 2.5 btc or similar and then asked her if she wanted me to convert her bch to btc and she said yes, resulting in the weird number. But I may be remembering wrong. I offered her a generous exchange rate because I wanted to get family members interested in crypto.“
In early January, Schwartz, talked his crypto portfolio:
Note that this is not necessarily what I'd chose to hold now, I just kind of wound up here due to airdrops and other circumstances. 😉
Roughly in order of position size:
XRP, BTC, ETH, BAT, XLM, ADA, Polymath, BNT, KIN, Crypterium, StormX, Bitcoin Gold, and EOS.
— David Schwartz (@JoelKatz) January 2, 2021
And last October, he revealed that because “the risk is very high in the entire cryptocurrency space”, in 2012, he and his wife agreed on a de-risking plan, which resulted in him selling some of his BTC, ETH, and XRP holdings for $750, $1, and $0.10 per coin respectively.
My decision to derisk was made in 2012 or so when I discussed investing in cryptocurrencies with my wife. She insisted we agree on a derisking plan right then. And I must say that every bitcoin I sold for $750 or XRP for $0.10 hurt.
— David Schwartz (@JoelKatz) October 11, 2020