Former Ripple CTO Sold 40,000 ETH at $1—Missed Billions Later

• Former Ripple CTO sold 40,000 ETH at $1.
• Ethereum later surged, turning profits into missed billions.
• Solar panels bought with proceeds from early sale.

Former Ripple CTO David Schwartz has revealed details of an early Ethereum trade that would later draw widespread attention. According to a recent post on X, David Schwartz sold 40,000 ETH when the token traded near $1.05. At the time, he believed he had made a strong investment decision.

Schwartz explained that he initially purchased the tokens at $0.311. Consequently, he secured a 321% return on his position. The sale generated roughly $42,000 in proceeds. However, Ethereum’s price later climbed dramatically, turning the early exit into a notable missed opportunity.

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According to Schwartz, he joined Ethereum’s early sale after a personal invitation from Vitalik Buterin. He contributed 20 BTC to support the project during its formative stage. That contribution allowed him to acquire the full 40,000 ETH allocation available to him.

Although the return appeared impressive at the time, Ethereum eventually entered a prolonged rally. As prices surged in subsequent years, the value of 40,000 ETH rose into the billions of dollars at peak market levels. Hence, what once seemed like a timely exit later stood in sharp contrast to the asset’s long-term performance.

Early Crypto Gains Funded Solar Investment

Schwartz stated that he used the $42,000 from the sale to install solar panels at his home in Oakland, California. Moreover, he noted that he no longer owns that property today. The trade, therefore, translated into a tangible investment outside the digital asset market.

Besides reflecting on the Ethereum sale, Schwartz continues to disclose parts of his crypto portfolio publicly. He has confirmed holdings in Bitcoin and Ethereum, along with several altcoins. Additionally, he previously revealed that he once held about 20 million XRP at his highest exposure.

Instead of taking a larger XRP allocation, Schwartz chose a 2% equity stake in Ripple. Consequently, estimates of his net worth vary widely, depending largely on Ripple’s valuation and his retained assets.

His recent remarks offer insight into early crypto market decisions. They also highlight how even experienced developers navigated uncertain price cycles during the industry’s early years.

Also Read: Ripple CEO Sends Urgent Warning as Clarity Act Hangs by a Thread

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