Litecoin Creator Charlie Lee Sells His Holdings

'IT IS A CONFLICT OF INTEREST FOR ME TO HOLD LTC AND TWEET ABOUT IT BECAUSE I HAVE SO MUCH INFLUENCE"

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Litecoin creator, Charlie Lee, has announced he sold all his holdings of the cryptocurrency mentioning an alleged conflict of interest.

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“Some people even think I short 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,” Lee stated in a Reddit post.

Lee continued to say that his holdings only made “a small percentage” of the litecoin’s trading volume worldwide.

Created via a fork of bitcoin in 2011, litecoin is the fifth largest cryptocurrency by market capitalization with a total value of $17.7 billion at press time.

The price of litecoin hit a new all-time high yesterday at $374.89 but has decreased just over seven percent today, currently at $325.56 (-7.22%).

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