Litecoin CEO Opens Up on Why He Sold All His Litecoin Shares

 

The ongoing Litecoin conference has seen various keynote speakers presenting their insights on digital currencies including Charlie Lee, the Founder, and CEO of Litecoin (LTC).

Lee expressed that the main agenda of the conference was to clear current fear, uncertainty and doubt surrounding digital currencies that have seen early investors leave the crypto market in masses. Lee is well known for auctioning all his LTC investments that caused an uproar on social media platforms.

“It Would have Sacked”

He reinforced his decision of selling all his Litecoin by stating that “it would have sacked” if he had not done. He further proceeded by saying that he sold all his stake because by then, Litecoin was thriving and the capital he obtained from the sales assisted him to concentrate fully on the growth of Litecoin.

“Thank God I did what I did. Any other route and I would have to look for another job to manage my life.”

More Insights

He proceeded by suggesting that investors ought to hold their investments and not auction immediately they realize a slight market crash. This, he expressed, would also empower crypto enthusiasts to identify market trends and make better decisions.

In addition, Lee also discussed decentralized platforms and the social media part of it all. He said that with the exponential growth experienced in the crypto world, many people approach him on the possibility of partnering with Litecoin.

He also said that people ought to exploit cryptocurrencies as they consider fit and not by some documented guideline. It is not the value that matters, but the application and acceptance that really determines the triumph of any digital currency.

Lastly, Lee also discussed how 2017 was a disruptive year after all the hard forks and the remarkable bull runs of the crypto market.

Lee’s main objective was to certify that people are enlightened on how cryptocurrency solves the “flawed existing fiat money of today.”

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John Makori is a cryptocurrency writer with background in IT and journalism. He has lived in different countries, and settled in Canada. He has more than 4 years of experience working as a journalist with interest in Bitcoin and Cryptocurrencies. He’s passionate about learning Blockchain technologies’ potential to reshape all aspects of our lives. He joined TheOofy as a writer.