Ripple CTO Triggers Unorthodox Bitcoin (BTC) Opinion Poll
David Schwartz, the Chief Technology Officer (CTO) of Ripple, recently conducted an unusual opinion poll regarding Bitcoin (BTC). With the cryptocurrency’s price down by 4.23% over the past 24 hours to $42,097.96, Schwartz’s poll comes at a strategic time. This price slump has led to a diverse range of opinions on whether to “HODL or smash” Bitcoin.
Comments on Schwartz’s post indicate that people are not as optimistic about Bitcoin as they are about XRP, the digital currency associated with Ripple Labs, where Schwartz holds a prominent position. While some of Schwartz’s followers expressed their intention to ‘smash’ Bitcoin, a substantial number stated that they would convert to XRP and HODL.
It’s important to note that social media comments may not be a true reflection of investor behavior, as many are designed to drive engagement. Schwartz’s Bitcoin (BTC) opinion poll came after a weekend of debate, during which he defended Bitcoin’s integrity against claims from comedian Owen Benjamin, who suggested that the coin is a decentralized Ponzi scheme.
Bitcoin remains the most established digital currency, and current indications suggest that more people are inclined to go all-in on the asset.
Ripple CTO’s Take on Bitcoin HODL
Schwartz argues that selling Bitcoin is not in the best interest of the seller, considering that the dollar used to purchase it typically gets devalued over time. This perspective reinforces Schwartz’s position and underlines the resolve of some of the biggest HODLers of the digital currency, particularly MicroStrategy. The business intelligence and software firm has been acquiring Bitcoin since August 2020 and has remained resolute against selling its stash.
Like Ripple CTO Michael Saylor, the chairman of MicroStrategy is convinced that HODLing Bitcoin is the best long-term strategy.
This article was originally published on U.Today
