Friday, June 21, 2024
HomeCryptocurrencyRipple CTO Says Satoshi Nakamoto Likely Held Huge Amount of XRP. Here's...

Ripple CTO Says Satoshi Nakamoto Likely Held Huge Amount of XRP. Here’s why

David Schwartz, the Chief Technology Officer (CTO) of Ripple, made a noteworthy claim during his 2021 deposition in the ongoing lawsuit between Ripple and the Securities and Exchange Commission (SEC). Schwartz suggested that Satoshi Nakamoto, the pseudonymous creator of Bitcoin (BTC), likely held a significant amount of XRP in 2017.

This statement has reignited speculation about the connection between XRP and Satoshi Nakamoto. While the details surrounding Nakamoto’s identity remain a mystery, Schwartz’s comments during the legal proceedings have drawn renewed interest.

Schwartz’s Reasoning and Ripple’s Focus

Schwartz’s deposition sheds light on a key difference between Ripple and Bitcoin. He highlighted Ripple’s concentrated efforts in developing a real-world payment system utilizing XRP. In contrast, no similar focus on building a dedicated payment system was observed for Bitcoin.

Furthermore, Schwartz pointed out that Ripple’s level of control over XRP distribution grants the company a strategic advantage compared to its competitors. However, he acknowledged the difficulty in definitively tracking Bitcoin’s distribution due to its decentralized nature.

Despite this acknowledgment, Schwartz’s core claim regarding Satoshi Nakamoto’s potential XRP holdings remains a significant point of discussion.

Fueling Speculation: Schwartz and Nakamoto – A Look at the Coincidences

Schwartz’s suggestion has fueled ongoing speculation about a potential link between him and Satoshi Nakamoto. Several past events have contributed to this theory, and Schwartz’s recent deposition has only intensified the discussion.

One such coincidence lies in the timelines surrounding the development of XRP Ledger (XRPL) and Satoshi Nakamoto’s apparent disengagement from the Bitcoin project. In 2011, Nakamoto indicated their intention to pursue other endeavors, which coincided with the year Schwartz expressed interest in exploring new ventures.

Following Nakamoto’s departure from Bitcoin, a significant development unfolded in 2012. Schwartz, along with Arthur Britto and Jed McCaleb, embarked on the creation of XRPL. The launch of XRPL in the same year as Ripple’s debut further strengthens the coincidental timeline. Moreover, Ripple adopted XRPL as its core blockchain solution.

Interestingly, historical records show that Satoshi Nakamoto expressed admiration for the initial concept of Ripple, a decentralized payment system proposed by Ryan Fugger in 2004. It is important to clarify that this praise was directed towards the original Ripple concept, not the current XRP iteration developed by Ripple Labs.

Another interesting detail is the date of the pre-released Bitcoin code shared by Satoshi Nakamoto: November 16, 2009. This particular date coincides with Schwartz’s birthday. While intriguing, it’s crucial to remember that these coincidences, along with Schwartz’s recent statement, do not provide concrete evidence to confirm his identity as Satoshi Nakamoto.

Speculation vs. Evidence

The ongoing legal battle between Ripple and the SEC has brought David Schwartz’s claims regarding Satoshi Nakamoto’s potential XRP holdings back into the spotlight. While the possibility is intriguing, it’s essential to distinguish speculation from verifiable evidence.


The true identity of Satoshi Nakamoto likely remains a secret, and further developments in the SEC case or independent breakthroughs may be required to shed more light on this ongoing mystery.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Times Tabloid is not responsible for any financial losses.

Follow us on Twitter, Facebook, Telegram, and Google News

Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Latest News & Articles