The founder of Litecoin (LTC), Charlie Lee, who’s notorious for selling his entire Litecoin holdings near the peak at around $300 in December 2017, recently said he expected the price to go much higher.
In an episode of the most recent “Off the Chain” podcast hosted by Anthony Pompliano, Lee 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.”
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Important Lessons from Charlie Lee
According to Lee, he had no idea he was selling at the top when he unloaded his Litecoin holdings, which he did to simply separate himself from having a vested financial interest in the project.
Lee says he gets asked about price all the time due to the misconception that he timed the top when he sold his Litecoin holdings. However, Lee says he has no idea about where prices are headed, and that anyone who says they do is lying.
Adding to this, he said:
“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.”
As for Lee’s take on Bitcoin (BTC), he believes it will eventually become the world reserve currency while coexisting with fiat currency. He also expects there to be a handful of other cryptos with value, which will be used as currency.
“Bitcoin will be the major one and there will be a few other ones.”
Adding to this, he said that in the interim, the Bitcoin price will remain volatile for as long as its future remains uncertain.
Do you believe Charlie Lee didn’t know he was selling at or near the top for Litecoin? Do you think Litecoin’s future is as bright as Bitcoin’s? Let us know what you think in the comment section below.