"Charlie Lee, the creator of the world’s fifth-biggest cryptocurrency, Litecoin, announced shortly after midnight that he was cashing in his profits after a torrid, 9,300% rally in the past 12 months. In a post on reddit, the San Francisco-based software engineer who founded litecoin in 2013, said that he sold and donated all of his holdings over the past few days."
Profit-taking or something worse? What are your thoughts?
I know its for a 9300% gain but its never a good thing when a founder bails.
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Agreed. Typically the founder should know things the rest of us don't. Wonder what that is/was and what his motivation was....?
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My guess is either the price exceeded his wildest dreams, or he realizes another crypto has better characteristics than his. Either way, I'd be careful on litecoin in particular.
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Yes, its a bit unusual to sell everything all at once for the people in charge. At a minimum it tells you that he thought the price was more than his expectations. Or maybe he is buying other crypto that might be better???
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Lee nin amacı ne
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