Today Charlie Lee can buy his LTC stash back 10 times cheaper

22 Nov, 2018
by Joeri Cant
News
Today Charlie Lee can buy his LTC stash back 10 times cheaper

Almost a whole year ago, in December 2017, Charlie Lee, former director of engineering at Coinbase, and founder of Litecoin, decided to sell all of his LTC coins. Today he could buy them back 10 times cheaper!

When Charlie Lee sold all of his LTC coins, he explained that he decided to do so to avoid the conflict of interest that came with his influence on the cryptocurrency universe and from his position as LTC founder.

'Whenever I tweet about Litecoin price or even just good or bad news, I get accused of doing it for personal benefit.' he said. 'Some people even think I shorts LTC!'

'So in a sense, it is conflict of interest for me to hold LTC and tweet about it because I have so much influence. I have always refrained from buying/selling LTC before or after my major tweets, but this is something only I know. And there will always be a doubt on whether any of my actions were to further my own personal wealth above the success of Litecoin and crypto-currency in general'

When Charlie Lee sold his Litecoins, one coin was trading at $330, which was not too far away from its all-time-high. Today, LTC is being sold at the much lower price of $33.95. That is a 10x discount. Perfect Christmas gift maybe? 

So, if Lee would decide to do so, he could buy back his LTC stash 10 times cheaper, or buy 10 times the amount of coins he held.

But would he? Not likely.

In an appearance on CNBC Fast Money, in August 2018, Charlie Lee was asked that exact same question and he made it pretty clear that he is not planning to buy back the Litecoins he sold 'any time soon or at all'.

The real question is of course if you will be buying LTC at this price? Will you be filling up your Christmas stockings with LTC? Let us know in the poll below.

Related: Black Friday sales: the 5 worst performing cryptos are at 90% off

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Poll

Will you be filling up your Christmas stockings with LTC?

(21 votes)

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