Ripple CTO, David JoelKatz Schwartz, has now become a part of a new controversy, including Strategy (previously called MicroStrategy) and Bitcoin. A debate has already been taking shape, where a few community members, including Nick O’Neill, have been taking shots at Michael Saylor’s company, but new updates made the Schwartz comment, which looks like a warning to many.
Ripple CTO Joins Strategy Debate
Ripple CTO David JoelKatz Schwartz’s involvement in the Strategy debate comes tertiary, as it all began with Nick O’Neill, the Co-Founder & CEO of BoDoggosENT. Pseudonymous crypto investor ‘The Digital Asset Investor’ highlighted that O’Neill has been creating critical videos about the Michael Sayor firm for days, but has now shocked everyone with a new video in which he is defending the company.
His serious facial expression, reading a script, and talking contrary to a previous statement have resulted in many speculating that he has been hit with a lawsuit. Digital Asset Investor summed up the sentiment in a post:
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- Source: X, Digital Asset Investor
Others commented that “blink twice if you need help, while others added that ‘he has lost all the credibility he had.’ Notably, Schwartz also added his opinions, which also look like a warning.
Ripple CTO Calls The New Statement ‘Not Genuine’
Notably, the Ripple CTO also jumped on the thread, suggesting that the video does not seem genuine. He even added that the individual does not look happy, making the statement, and his original video truly reflected his opinions.
While adding his belief on that, he also pointed out the importance of words coming out of someone’s mouth and their potential worth. Notably, David JoelKatz Schwartz also clarified that he does not agree with O’Neill’s previous criticism of Strategy; he still defends his right to express, adding that companies shouldn’t threaten people from sharing their opinions.
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- Source, X, Ripple CTO Thread
Holding Microstrategy Won’t Turn Out Well If
In this series of tweets, one hit the users the most, as David ‘JoelKatz’ Schwartz also talked about Strategy’s Bitcoin buying strategy. After recent 430 BTC buys, Michael Saylor’s company holds 629,376 tokens. Some appreciate these approaches while others criticize, even adding that the company’s stock is a leveraged Bitcoin play, which Ripple CTO also agrees to some extent.
He adds that it’s not controversial thinking that holding MicroStrategy (stock) won’t turn out well if Bitcoin collapses.
This does sound true, as the Bitcoin price rally has pumped the MSTR stock’s valuation pretty high. As a result, as long as BTC rallies, holding the stock looks visionary; however, there’s also downside risk, with the token’s downtrend.
Even at present, BTC is collapsing from the ATH of $124.4k, and the impact is visible on Strategy, as the MSTR stock price has collapsed 10% over the week, currently at $363.60.
Frequently Asked Questions (FAQs)
Ripple CTO commented on a Strategy debate, including Nick O’Neill, who changed his stance on the firm, sparking speculation of lawsuit threats.
He cautioned that MSTR investment may turn out differently due to its Bitcoin exposure, adding that it could suffer if BTC price declines.
He added that he doesn’t necessarily agree with O’Neill’s previous claims but believes people should be allowed to express their views.
Pooja Khardia
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section.
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Source: https://coingape.com/trending/holding-microstrategy-wont-turn-out-well-warns-ripple-cto/
