The Litecoin creator named Charlie Lee is in our latest cryptocurrency news, especially because of his Litecoin holdings and their offload near the peak. Even despite this, the Litecoin founder is optimistic about future gains.
In a podcast interview with the Morgan Creek Digital Partner Anthony Pompliano, Lee fielded some tough questions about his LTC portfolio as well as the state of the crypto industry. With this, Charlie Lee triggered the altcoin news – mostly because of one statement.
What many don’t know is that when Charlie Lee decided to sell his Litecoin holdings, the cryptocurrency was trading at approximately $400 – which was also the time when he expected the price to go much higher. As he said on the podcast:
“I actually personally did think it was going to keep going up. I didn’t think that was the peak…I thought it was going to hit $1,000.”
New episode is live w/ @SatoshiLite!
We discuss the early days of Coinbase, why he originally built Litecoin, how crypto evolved over the last decade, what the current challenges are, and where Charlie sees BTC & LTC going in the future.
Listen & learn!https://t.co/JcpLe8SXZi
— Pomp 🌪 (@APompliano) May 1, 2019
According to Charlie Lee, there are constant questions coming his way about the future price of Litecoin and the current LTC prices – even though he does not know where the Bitcoin or Litecoin prices are headed.
“If anyone tells you they know they’re lying,” Charlie Lee said. “No one knows if the price will go up or down. I’ve seen a few bull and bear markets. Sometimes it recovers. Who knows? I think if anything, it’s good we’re seeing some recovery. But don’t go all in. I tell people never to go all in.”
Charlie Lee also expressed his sentiment on Bitcoin, saying that the most dominant cryptocurrency is on a good way to eventually become the world reserve currency and coexist with fiat currency. In the end, Lee expects that there will be a handful of coins to have value.
“Bitcoin will be the major one and there will be a few other ones,” Charlie Lee concluded, showing that the BTC price will remain volatile as long as the future of the leading cryptocurrency remains uncertain.
The LTC price is right now hovering at $73 which is more than double where it was originally trading at the start of this year. Still, this is a far cry from the $1,000 level that he expected during the bull run of 2017.
As the best cryptocurrency news sites reported, Charlie Lee has come a long way from trading BTC locally in cafes like Starbucks to creating Litecoin.
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“I got some of my Lealana 25LTC & 10LTC coins graded by ICG. The labels of these coins are signed by me. There are a total of 5x 25LTC coins and 8x 10LTC coins. I have no plans to do any more of these. The 10LTC are the first issue ones with the bump in the back behind the hologram.”A ‘’BTC enthusiast’’ on Twitter, explained that he purchased one of the Lealana Litecoin collectibles at the Magical Crypto Conference in New York. He tweeted:
“It’s loaded with 10 LTC. There is a private key concealed with a tamper-proof hologram on the obverse of the coin.”Lee had the coins pre-assessed by the Independent Coin Grader which rates the coins based on the features. Similar to the altcoin, Lee only signed a set amount of coins which of course, bolsters their value. Litecoin, for example, has a finite supply of 84 million coins while Bitcoin has 21 million. Bidding for the litecoin collectibles starts at 0.1 LTC and Lee says he will also accept BTC payments. The auction will end on May 15. Lee has been trying to remind the crypto market that he sold his Litecoin portfolio during the peak price when a coin was worth $300. Now that the portfolio is empty, he moved to the litecoin collectibles. However, as noted in the latest cryptocurrency news, some users are now agreeing with his idea:
“I am sorry but I think this auction is in poor taste. The guy made millions and had 1000’s and 1000’s of litecoins and sold them all at $300 and he has the audacity to sell these coins for his own profit? Donate the proceeds or something. I’m sorry, I don’t mean to be rude but this just doesn’t sit right with me.”
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