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Ripple CTO David Schwartz suggests that Bitcoins pseudonymous creator, Satoshi Nakamoto, held an enormous amount of XRP.

Schwartz made the claim in his 2021 deposition in the SEC v. Ripple lawsuit. During the deposition, the Ripple CTO suggested that the Bitcoin creator probably held a huge amount of XRP in 2017.

According to him, while the Ripple team was focused on building a payment system around XRP, no similar effort was made for Bitcoin (BTC). He pointed out that Ripples control of XRP gives the company an advantage over its competitors.

When asked whether Ripples control of XRP differentiates the coin from BTC, he acknowledged the difficulty in tracking Bitcoin-related distribution. Nonetheless, he said:

Satoshi, the original Bitcoin creator, probably held an enormous amount of XRP at the time [2017].

Documenting Ripple, an X handle focused on documenting Ripples history, shared an excerpt of Schwartzs deposition on X.

Schwartzs suggestion could further elicit speculations about him being the face behind the pseudonymous Bitcoin creator. Several events have triggered this speculation over the years, with his suggestion about Satoshi Nakamotos XRP holding likely to stoke it further.

Another event that made many speculate that Schwartz could be the face behind Satoshi Nakamoto is the coincidence between the initial development of XRP Ledgers (XRPL) and Satoshi Nakamotos exit from Bitcoin.

Also, Nakamoto revealed plans to move on to other things in 2011, which coincided with the year Schwartz announced his interest in exploring new endeavors.

Interestingly, Schwartz, alongside Arthur Britto and Jed McCaleb, commenced the development of XRPL. Following XRPLs launch in 2012, which also coincided with Ripples debut, the company adopted it as a blockchain solution.

Moreover, Satoshi Nakamoto praised Ripple for building a reliable system that does not prioritize centralization. Nonetheless, his admiration was directed at the original 2004 Ripple concept by Ryan Fugger.

Additionally, Satoshi Nakamoto shared the pre-released version of the Bitcoin code on November 16, 2009, a date that coincided with Schwartzs birthday.

It bears mentioning that these events, including Schwartzs disclosure about Satoshi Nakamotos enormous XRP holding, do not confirm that the Ripple CTO is the face behind Bitcoins pseudonymous creator.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Ripple CTO Suggests Satoshi Probably Held an Enormous Amount of XRP - The Crypto Basic