The founder of litecoin Charlie Lee acknowledged that the sale of savings lithino at the end of last year was probably not the best solution in terms of a short-term perspective.
In an interview with Julian Hosom, founder of TenX, Lee said that now when litecoin is significantly below the December high of $374, he already doubted the correctness of his decision:
I still think it was the right move, but only in the long term. For the short term when price is below record highs, it seems, is the wrong decision.
In December and January, when the cryptocurrency market has reached record levels, and bitcoin went up almost to $20,000, litecoin soared to $374. The price increase was partly due to the appearance of Lee on CNBC where he talked about his creation and cryptocurrency in General.
The owners of litecoin was delighted with the growth of prices (given that at the beginning of 2017, his rate was $4), but their enthusiasm considerably abated when Charlie Lee suddenly announced that he had sold all his coins to avoid conflicts of interest.
The announcement has shaken the faith of investors in litecoin, with the result that its price began to decline, and Whether the step has been criticized as not appropriate for leader a sign of weakness.
In an interview with the Hosp Charlie Lee said that although so far it looks bleak, he expects that ultimately his decision will contribute to the success of litecoin:
I think that in the long term, such as five years, when the price again begins to beat the records, my expectations are confirmed.
He also said that the decision to sell the coins was a “first step” towards fully decentralized cryptocurrency and that ultimately he intends to completely abandon control over the money:
In order that the currency has indeed become global and decentralized, there should be a leader, trying to control the situation. And I go, to make it more decentralized.