Litecoin founder Charlie Lee stated nowadays on Reddit and Twitter that he has absolutely unloaded all his Litecoin holdings through promoting and donation.
posted on Reddit:
“For the first time in six years, I not own a single Litecoin that’s not stored in a physical Litecoin. I do have some of these as collectibles.”
In line with his Reddit post, the quantity Charlie Lee offered was a small percent of GDAX’s every day quantity, and it did not crash the marketplace.
Charlie Lee posted in Twitter on December 20:
“Please read the complete post. Reddit thread is here: https://www.reddit.com/r/litecoin/comments/7kzw6q/litecoin_price_tweets_and_conflict_of_interest/”
However, Charlie Lee decided to promote all of his Litecoin due to the capability for conflict of interest, given the impact his private statements may have on the coin’s price. Lee mentioned that by promoting all his Litecoins, he could completely separate his personal reviews and actions from the performance of the cryptocurrency.
Charlie Lee said:
“Every time I tweet about Litecoin rate or maybe just good or bad information, I am getting accused of doing it for private advantage. A few people even suppose I short Litecoin! So in a sense, it is a conflict of interest for me to maintain Litecoin and tweet about it because I’ve so much affect.”
Charlie Lee did provide some clue concerning his destiny, reassuring customers that he’s in no way forsaking his development. With his private budget stable, he plans to devote himself to Litecoin, and expects to meet with a variety of different rewards beyond the price appreciation of his cryptocurrency.
Charlie Lee stated:
“Don’t fear. I am now not quitting Litecoin. I’ll nevertheless spend all my time operating on Litecoin. When Litecoin succeeds, I can be rewarded in plenty of various ways, just not immediately through possession of coins. I now believe this is the great manner for me to keep overseeing Litecoin’s increase.”
Charlie Lee additionally brought an replace to his Reddit submit clarifying that he had no part within the Bitcoin cash buying and selling hiccup on Coinbase’s GDAX. Litecoin has risen to all-time high values in latest weeks. Nowadays, Litecoin was buying and selling at $312, down from an all-time high of $371 on December 19. Within the last month, Litecoin rate has seen a nearly three hundred percent growth, up from $71.41 on November 20.