Litecoin Creator Charlie Lee Sold All His LTC So No Conflict Of Interest…

Charlie Lee, inventor of this planet's fifth-biggest cryptocurrency Litecoin (LTC), has sold off his digital assets. The coin continues to be up about 75-fold since the close of 2016, based on coinmarketcap.com prices.

Lee said Litecoin's price right now could have a “short-term dip as a result of investors losing faith thinking that I've lost interest in the project”.

Fundamentally however, the movement will be good for that token in the very long term, he explained. “On the other hand it's also negative, because it's hard to evaluate what the impact of my departure will be.”

And how does it feel to take profits on such a high? Especially since now that the crypto boom that has been described as the largest financial bubble of all time?

“I am still taking care of litecoin full time,” Lee said.

The industry value of the crypto market right now is $17Bn using a range of the biggest digital currencies.

Lee insisted that his move to sell wasn't a sign he's lost faith in the crypto currency. The San Francisco-based pc software engineer whose Litecoin was put on the market in 2011, “sold and donated” most his holdings within the last day or two. Lee’s main concern was to avoid what he called a conflict of interest between his work on the coin and his crypto assets.