Litecoin's co-founder (LTC) highlighted the motivations behind the sale of his LTC holdings, saying that the media created sensational headlines from a partial citation from him.
Charlie Lee revealing his statement to the LTC just concluded The Summit, said he told the meeting the reasons behind the sale of its shares in LTC.
He said: "At the LTC Summit, I briefly addressed the motivation behind the sale of my LTC holdings, however, bad journalism is rampant in the crypto, and now there is a sensational title created by a partial citation. for me. "
Charlie Cracks Joke
According to him, the journalists picked up a quote from what he said jokingly
" I half-jokingly said it's good that I did what I did otherwise I could find another job and not be able to work full-time on Litecoin (not to mention help fund the Litecoin Foundation.) Of course, this is the only point on which this journalist has collected and has not had time to make fun of me. "
Speaking further, Charlie said he sold his LTC holdings to focus on adoption and not on price. He, however, made it known that he loves dear Litecoin and does not require monetary incentives.
He emphasized: "re: conflict of interests, I sold my LTC holdings so that I can concentrate on adoption and not on price, since those 2 are not always related." Litecoin is my baby, so I do not I need monetary incentives to want it to succeed. "
Clarifications about Hodling
Charlie, whose advice to the cryptocurrency community has always been" HODL "revealed to the cryptic world who did not contradict his advice, saying that selling during a bull market does not contradict the joking advice.
"Finally, a bit of a joke.The term came from a bitcointalk forum user who refused to sell when the market crashes in. Hodl means not panic selling when prices are low. The sale during a bull market does not contradict the joking advice. "
Revisitation of Charlie's declaration around December 2017
Charlie Lee said that in December 2017 Reddit sold and donated all of its Litecoin tokens a few weeks ago . He did this at a time when the price of LTC was over $ 300. The move has generated and continues to generate series of accusations within the cryptographic space. On this decision, according to him, "some people even think that I am short of LTC (litecoin)!"