Jed McCaleb has earned $3.1 billion and 708 BTC from his XRP sales in all
Well-known XRP enthusiast and founder of XRParcade, Leonidas, estimated that Jed McCaleb earned $3.09 billion and 708 BTC from selling his position. Significantly, most of the sales, 80% or $2.56 billion, came after the SEC filed its case against Ripple.
XRP community is now free of “burden of McCaleb”
Former Ripple co-founder and CTO Jed McCaleb officially sold off all of his XRP holdings. That was the headline that greeted the XRP community this morning, along with the pleasant bonus of an 8% increase in the price of the token.
Meanwhile, XRP historian Leonidas did his research and discovered that most of MaCaleb’s selling of his huge XRP position came after the SEC lawsuit against Ripple. Although it’s an open secret, the amount of money the former head of Ripple has made from XRP sales is quite impressive.
Whether McCaleb’s increase in XRP sales precisely after the SEC investigation began is an ugly move is an open question. What is more interesting is how much longer the sale would have taken and whether it would have ended at all if there had been no investigation.
How to earn a lot and still miss the profit
The funny thing is that McCaleb only sold XRP for BTC at the start of the selloff. Then, for some reason, McCaleb dropped the idea. McCaleb’s last Bitcoin transaction was on September 14, 2014, when the value of one BTC was still $400. Nevertheless, he still managed to get 708 BTC, which if he didn’t sell it, now equals $15.5 million and entitles him to be among the whale ranks with a position of 100 to 1,000 BTC.
