TLDR
- Ripple CTO David Schwartz responded to crypto analyst Soni’s claims about Bitcoin being a “risk-free” asset.
- Schwartz emphasized that Bitcoin is not the same as it was 50 years ago, pointing to its evolving market characteristics.
- Ripple continues to push forward with its stablecoin initiatives and institutional payment solutions.
- Ripple raised $500 million in a private funding round, valuing the company at around $40 billion.
- Large Bitcoin holders are shifting strategies by moving their assets into regulated Bitcoin ETFs for tax advantages and increased legitimacy.
Crypto analyst Soni revealed on social media that the CFA Institute issued a “Notice of Investigation” against him. The investigation stems from his remarks about Bitcoin, which he described as a “risk-free” asset. This incident highlights the increasing regulatory scrutiny surrounding how crypto professionals discuss risk in public forums.
Ripple CTO Responds to Bitcoin Debate
David “JoelKatz” Schwartz, Ripple’s CTO, responded to Soni’s statement about Bitcoin’s volatility.
Schwartz remarked, “Bitcoin is not the same now as it was 50 years ago.”
His comment, though playful, emphasized the evolving nature of Bitcoin, noting its market characteristics have changed since its creation in 2009.
Bitcoin is not the same now as it was 50 years ago.
— David ‘JoelKatz’ Schwartz (@JoelKatz) November 9, 2025
Schwartz’s response was a rebuttal to Soni’s framing of Bitcoin as a stable asset. Soni suggested that fiat currency, not Bitcoin, is volatile. Schwartz’s comment hinted that Bitcoin’s evolution goes beyond a simple price comparison to fiat money.
Ripple continues to develop its stablecoin and institutional payment infrastructure. The company recently raised $500 million in a private funding round. This funding valued Ripple at approximately $40 billion, signaling strong market confidence in the company’s future.
Ripple has also pushed forward with its efforts to integrate its stablecoin, RLUSD, into real-world payment systems. The company is working on projects with Mastercard and Gemini to use RLUSD for fiat card settlement. Ripple is particularly focused on bridging traditional finance and crypto in cross-border transactions.
Bitcoin Whales Shift Strategies
Large Bitcoin holders are adjusting their strategies, moving from direct Bitcoin holdings into regulated vehicles like Bitcoin ETFs. This shift is driven by the tax advantages and increasing legitimacy of Bitcoin ETFs. On-chain data indicates that dormant whale wallets are transferring large amounts of Bitcoin into these regulated options.
This movement could reduce the amount of Bitcoin available on the open market. It may also lead to tighter price dynamics as institutional frameworks grow stronger. At the time of writing, Bitcoin is trading around $106,000, continuing its bullish momentum.
Ripple CTO David Schwartz’s perspective on Bitcoin reflects broader debates in the crypto space about risk, market evolution, and institutional adoption.
