"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.
Agreed. Typically the founder should know things the rest of us don't. Wonder what that is/was and what his motivation was....?
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.
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???
Lee nin amacı ne