Ripple's Boss Advice For Beginner Crypto Investors: Think Before Selling Cryptocurrency

JAKARTA - In recent weeks, a number of cryptocurrencies have experienced significant increases, as revealed by Coinbase. The boss of Ripple responded to this so that investors would not rush to sell their cryptocurrency.

According to Ripple's Chief Technology Officer, David Schwartz, investors should liquidate some of their cryptocurrency holdings, especially if they have large amounts.

"If you have a life-changing amount of cryptocurrency, please take some time to seriously consider (before) selling some (cryptocurrency) to reduce your risk and exposure," Schwartz wrote in a tweet.

He also clarified that his suggestion is not in the form of a prediction as is done by the market. According to Schwartz, this week has been a great week for the cryptocurrency industry.

This is because the price of altcoin and bitcoin has increased so much that it has touched a new record. This happened after Coinbase was announced on the US stock exchange.

"Coinbase started trading with a market capitalization of around $65 billion," said Schwartz.

The CTO of Ripple explained that there will be a lot of requests from various financial institutions to implement a "real cryptocurrency strategy."

On the other hand, Shwartz also provides different advice for crypto money investors to sell some of their cryptos to minimize risk. Previously, Schwartz regretted selling Ethereum (ETH) before reaching its peak price.

In 2019, the Ripple boss sold as much as 40,000 Ether at a price of 1 US dollar per chip. When compared to the current price of Ether, it would certainly be even higher if Schwartz sold it at the current Ethereum price which touched 2 thousand US dollars (around Rp. 36 million).

Many investors are starting to recognize the huge potential of Bitcoin, Ether, and other cryptocurrencies. They started to follow MicroStrategy's footsteps in holding their Bitcoin. On the other hand, other giant companies such as Tesla, Square, and Meitu also secure their finances in cryptocurrencies.

This serves to push bitcoin to an even higher price. Ahead of Coinbase's listing, cryptocurrency has again surged by 6 percent in the last 24 hours as Bitcoin News reported on Wednesday, April 14.