The Market Efficiency Argument

The discussion started when an X user asked Schwartz to respond to theories suggesting XRP could reach $10,000 based on a valuation model popularized by Chris Burniske using the formula Price = PQ / (V × S).

“If there were a few very rich, very rational people who really believed that there was a 1% chance that XRP could hit $10K in 10 years, they’d bid XRP up to at least $20 today,” Schwartz posted. 

“Why aren’t they? Conspiracy?” he added.

With XRP currently trading around $1.37 and holding a market cap near $85 billion, his comments highlight a gap between community expectations and market reality.

The Elon Musk Context

The exchange came after…

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