David Schwartz as Satoshi Nakamoto? Ripple CTO debunks conspiracy theory

The identity of Satoshi Nakamoto, the mysterious creator of Bitcoin, has been the subject of speculation for years. Recently, a new theory has emerged focusing on Ripple’s technology chief, David Schwartz. The debate was sparked by a statement Schwartz made during the SEC-Ripple case that drew attention.

Schwartz’s explosive statement about Satoshi Nakamoto’s XRP holdings

During the lengthy SEC lawsuit against Ripple, David Schwartz commented on an interesting point: that Bitcoin creator Satoshi Nakamoto reportedly held a significant amount of XRP in 2017. This statement quickly spread within the community and was confirmed by Edoardo Farina, CEO of Alpha Lions Academy — causing considerable discomfort among Bitcoin maximalists.

The fact that Nakamoto may have invested in XRP suggests, according to Farina, a broader interest in blockchain technology beyond Bitcoin. However, skeptics argue that Nakamoto might have explored various cryptocurrencies in the early days without necessarily supporting them. Max Keiser, for example, predicted in January a drastic drop of XRP to $0.01 — a scenario that has not materialized to this day.

Timing coincidences fuel identity speculation

The suspicion that David Schwartz could be Satoshi Nakamoto is reinforced by several timing peculiarities. The release date of the early Bitcoin code — November 16, 2009 — coincides with Schwartz’s birthday. Another coincidence is that while Nakamoto withdrew from the Bitcoin project in the early 2010s, Schwartz, along with Arthur Britto and Jed McCaleb, began developing the XRP Ledger (XRPL) in 2012.

Another point fueling speculation is Nakamoto’s well-known statement about decentralizing payment systems — a concept closely linked to Ripple’s approach, even though the original idea dates back to 2004 by Ryan Fugger.

David Schwartz clarifies: why he didn’t invent Bitcoin

At the XRP Conference in Las Vegas in 2024, David Schwartz took time to address the rumors directly. He admitted that he had the technical skills to develop Bitcoin but acknowledged lacking experience with the Qt interface — a core component of early Bitcoin code. He also emphasized that he only became aware of Bitcoin in 2011, long after Nakamoto’s exit.

This clarification highlights a key point: someone who only engaged with the project years after Bitcoin’s inception could not have been the original inventor. Schwartz admitted that the theory might sound plausible but dismissed it as factually incorrect.

The mystery remains — and likely intentionally so

The identity of Satoshi Nakamoto is expected to remain one of the most persistent puzzles in cryptocurrency history. “Satoshi Nakamoto” could be a pseudonym for a group of people or an individual — the truth may never be verified.

While David Schwartz has successfully put an end to the speculation about himself, the episode demonstrates how lively Bitcoin community discussions continue to be. Currently, XRP is trading at $1.39 (as of March 2026), down 2.73% in 24 hours, while Bitcoin remains around $70,670 — both prices show that these identity debates do not significantly impact the long-term development of the projects.