Ripple CTO David Schwartz gives advice to cryptocurrency traders

During Bitcoin's first bull run, the market saw an increase in the number of merchants willing to accept the cryptocurrency as payment. 

“When I was long Bitcoin, I sold it when I needed something. For example, when it was necessary to pay taxes, buy a new computer, and so on. This is exactly what almost all the first buyers of Bitcoin did,” Schwartz told his subscribers.

Ripple's CTO introduced two hypothetical Bitcoin holders with names: Alice, who recently sold a lot of Bitcoin, and Bill, who did not sell a single coin. Schwartz asked followers:

 “Whose Bitcoin position is longer?” Then he answered the question himself: “The entire time you are slowly buying and selling, you are in a long position. Anyone who continues to sell a lot should either hold a very long position or constantly buy,” the top manager of a crypto company advised.

Earlier, Ripple's CTO said that in the past he had about 26 million of the company's XRP coins, as well as significant investments in Bitcoin. A few years ago, David Schwartz quarreled on social networks with the notorious Australian entrepreneur Craig Wright, who proclaimed himself the creator of Bitcoin, Satoshi Nakamoto. Wright said that the XRP cryptocurrency will never be in demand among institutional investors.