Litecoin Creator Sold All LTC: Charlie Lee is a former Google and Coinbase employee who created Litecoin in 2011 as a quicker and cheaper alternative to bitcoin. Now it is becoming increasing and ranked in fifth largest cryptocurrency. Initially, it was underrated but this year it shows a conflict of interest.
The Litecoin increased explosively along with Bitcoin and ranked fifth largest cryptocurrency. On Thursday morning, Litecoin founder Charlie Lee gave an interview. He stated that he has sold all his LTC to avoid the conflict of interest that comes with his influence and position as LTC founder.
Charlie Lee explained why he sold all LTC not because he believes in Litecoin anymore or because he believed the price was in a bubble but rather because he exerted so much influence within the community and had the ability to move the markets through his public comments on Twitter and other public platforms.
Lee also added that he is not quitting the Litecoin. He will now on develop Litecoin by spending all his valuable time. Once it succeeds, he will be rewarded in lots of different ways. From now, Lee believes that it will be the good to see the overview of Litecoin’s growth. In this year, it seems that Litecoin has grown with 300 percent increase.