Litecoin’s Charlie Lee Thought LTC Was Going To Hit $1,000 USD Despite Selling Stash at $300 Range

    Litecoin’s founder Charlie Lee recently appeared in Morgan Creek Digital Partner Anthony Pompliano’s podcast where he spoke about the early days of Coinbase, the reasons for building LTC and cryptocurrency ecosystem's evolution over the past decade.

    One interesting revelation in the interview was that when Lee decided to ell his Litecoin (at approx $300), he had expected the price to go as high as $1,000. Although he later added that it is almost close to impossible to predict the prices. He said:

    “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. If anyone tells you they know they’re lying. 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.”

    However, the reality right now is that Litecoin is currently trading at $74, which even though is more than double the value at the beginning of the year, is significantly less than $1,000. He has plans to make Litecoin more private and scalable which he expects will drive the prices higher. This will be done through a technology called Mimblewimble.

    In the same interview, Lee said that he was optimistic about Bitcoin’s future. He believes that BTC has the potential to become the world’s reserve currency which will coexist with fiat currency. However, prices are expected to be volatile in the near future.

    When asked if the crypto winter is over, Pomp replied by saying that he doesn’t think so.

    “More likely than not, we’ve probably seen the bottom. But as many people in crypto learned, trying to time this stuff is a fool’s game. So we’ll see how it plays out.”

    Lee was also a former employee of Coinbase and did not hesitate to provide some constructive criticism for the company. He criticized the recent acquisition of Neutrino by Coinbase by saying:

    “They definitely made mistakes. The recent Neutrino acquisition was pretty dumb…When the news hit that people were upset, they doubled down on it and…we decided it was still the right thing to do. And they had to backtrack on that. That was pretty dumb and they didn’t handle it well.”

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Sritanshu Sinha
    Sritanshu Sinha
    Sritanshu has a keen interest in emerging technologies, startups and economic anthropology. He holds the view that cryptocurrencies are the best bet humanity has got to push the world towards a borderless economy.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Bitwise Plans To Target Retail Investors With Its Crypto Index Fund

    Bitwise has revealed that plans are underway to allow the retail market to participate in its large-cap index service. According to CoinDesk, Bitwise is working...

    Binance's Educational Platform Opens Up Government Approved Office in Shanghai

    Binance, one of the most popular crypto exchanges in the crypto-verse which also has many subsidiaries including Binance Academy (a blockchain and crypto-centred educational...

    XRP Trying to Retrace Months of Underperformance But Remains in a “Corrective” Structure

    XRP is up 12.5% but could still jump another 23%, A clean break above $0.21 would be “very bullish” Ripple granted an exemption...

    23k BTC on CME Futures and 50k BTC in Options Expiring Today

    Bitcoin is currently down 0.05% in the past 24 hours trading around $6,640 after hitting $6,872 last night, yet again rejected at $7,000 level....

    Microsoft Files Patent To Mine Cryptocurrencies With Verified Body Activity Data

    Giant software manufacturer, Microsoft is seeking to capitalize on the new crypto hype. The firm is seeking to introduce its own cryptocurrency that will...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.