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One of the most famous figures in the cryptocurrency is Charlie Lee, the founder of Litecoin, although many people are questioning his credibility these days. For those who ask why, many still believe that Lee, announcing that he sold all of his Litecoin roughly a year ago, has dramatically affected the price, and long-term investors have felt betrayed by his decision. His announcement was made almost exactly one year ago, December 20, 2017.
Sales details
It is important to note that many are crazy because it happened to Lee announces his decision sell Litecoin around the maximum historical cryptocurrency, which of course has led many individuals in the cryptocurrency community to feel skeptical about his intentions.
Regarding the context, in the period when Lee announced that he sold all of his Litecoin, the cryptocurrency sold well over $ 300. In fact, when Lee announced that he had sold all of his holdings, it was a day after Litecoin reached $ 375.
In a recent interview, Lee felt that the criticism was unjustified. In particular, he he has declared: "People lose money and want someone to blame, and they think that for some reason I have privileged information, and it's silly." When I sold, everyone thought he would go for $ 1,000. "It's also important to note that he refused to reveal how many Litecoin possessed in the same interview.
Focus on adoption
Lee changed gear, stating that his main goal is to make sure that more people use Litecoin in general. For example, it's on advisory Committee for the new HTC cryptic smartphone called "Exodus". Lee tweeted the phone at the beginning of this year at the end of July: =
I met the HTC Exodus team last week and I was really excited about the idea that the phone would support LTC and Lightning Network on Litecoin natively! I'll be a consultant because I see that having a secure crypt phone that makes LN simple is necessary for mass adoption.
Post scriptum No, they will not remove BTC. https://t.co/WQcygPVst0
– Charlie Lee [LTC⚡] (@SatoshiLite) July 30, 2018
It is logical that Lee should focus on traditional adoption, due to the bearish year in terms of cryptocurrency prices. For some context, Litecoin is currently trading – at the time of printing – at just over $ 35, which is not even 10% of Litecoin's all-time high price. Litecoin's market capitalization is just over $ 2 billion as of press time.
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