Ex-Ripple CTO Mocks Viral ‘Buy the S&P 500’ Advice

David Schwartz, former chief technology officer at Ripple, responded on May 26, 2026 to a viral post on X with a three-line reply: “1) Buy high. 2) ??? 3) Profit.”

The original user urged retail investors to put as little as $5 into the S&P 500 because the index was at all-time highs. The post drew nearly five million views before Schwartz replied.

The S&P 500 has traded near record levels through 2026. A rapid rally earlier in the year added roughly $6 trillion in market value over a 10-day stretch, a run that pushed the index toward fresh highs.

Some investors say that buying at elevated prices assumes further gains and can expose buyers to stretched valuation multiples. Entry price influences long-term returns and is a common focus for investors weighing new purchases.

Schwartz posts on X as @JoelKatz and has a history of analytical commentary on digital assets and market incentives. He has commented publicly on Ripple’s XRP escrow releases, meme coins and Bitcoin’s incentive model. He holds more than one million XRP.

His reply did not call for avoiding equities. It pointed out that the viral post did not explain how buying at a market peak would translate into profit or address timing, valuation or risk management.

The original recommendation framed small, accessible investments as a way for everyday investors to gain market exposure. That simplicity helped the message spread quickly and drew scrutiny from market participants concerned about entry points and potential downside.

The debate over buying at record prices continues as the S&P 500 remains at elevated levels.