In December 2017, Bitcoinist reported that Litecoin founder Charlie Lee had sold or donated his entire Litecoin holdings, in an effort to prove that his continued involvement in the project was no longer motivated by personal financial gain. Now, he’s not so sure that was the right decision.
The Right Call?
I still think it was the right move but I question whether — I think in the long run it was the right move but in the short term while the price is down, below the all-time high, it just feels like it’s not the right decision.
But I think like, moving forward, five years down the road, when the price is back to the all-time high, I feel like it will be the right move.
‘I Didn’t Actually Have That Many Litecoins’
Litecoin peaked in December 2017 at just under $360 per coin, while Lee sold on December 20th at $322 per coin. From a financial perspective, Lee made the right decision, as Litecoin — along with the wider cryptocurrency market, collapsed to levels less than half of those seen at all-time highs…