I don't think the reason he stated publicly is the only reason why he sold all of his. It mainly has something to do with the recent prices of litecoin. It's sky-high right now and Lee knows that, he also know that it will be very hard to go any higher because litecoin doesn't have any other intrinsic value. Litecoin is bitcoin lite period. Sure it has faster transactions but there are far better alts when it comes to transacting rapidly (like raiblocks for example, I will clever this in my next steemit blog post stay tuned!).