Litecoin (LTC) founder Charlie Lee is talking about the future of the coin and why he decided to sell all of his holdings in 2017. When he sold, it was the fifth largest cryptocurrency with a cap of $17B. Now, it dropped to eighth place and the market cap is just a “mere” $5B.
Lee said it took him two weeks to come to the conclusion to sell all of his LTC. He was struggling internally with his conscience and said that “it always felt a bit strange when I would publish predictions about the movement of the Litecoin market” and that selling his coins game him relief from the pressure and avoided any possibility of a conflict of interest. It’s probably better for the coin HODLers. He also talked about the coin’s benefits over Bitcoin, such as the transaction speed. He states that the future is focused on the adoption of cryptocurrency and getting retailers to use and accept LTC payments.
Lee believes Bitcoin will always be the top dog in the world of cryptocurrency and that LTC could capture about 10% of BTC’s market. It’ll be the “silver” alternative while BTC is the “gold” standard. BTC currently has a market cap of $141M. As for the future, Lee believes that BTC will be dominant and that it may be comparable to gold. Lee also mentioned that Ripple “is somewhat like a diamond, because its supply is artificially controlled.”
“Bitcoin doesn’t face storage problems. It’s very easy to transfer. For me, it’s better than gold in many ways. Being optimistic, the market value of Bitcoin could be more than the $10 trillion market value of gold. More than 100 times the upside.”
Long-time reader of crypto. One of the first graduating classes of Blockchain and Future Trends. Writer, journalist, and newbie technical analysis price speculator. Learning about the development of cryptocurrency and blockchain technology around the world is my job. ICOs, whitepapers, and cryptoculture are my things.
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