Long after Charlie Lee sold his Litecoins and explained his reasons for doing so, he still gets lots of criticism for it in online forums. However, in reality, he is probably the most authentic crypto figurehead out there. He is not out to hype any coin but rather to offer a realistic view of the market. If anyone has been following his moves, such a person is doing quite well in this market. For instance, anyone who sold with him in December is still in the money. His move in December was probably one of the best moves in crypto investing, one that not many people could pull out.
Lately, he has been talking up not just Litecoin (LTC), but bitcoin (BTC) and Monero (XMR) as well. While he has been criticized for promoting Bitcoin ahead of Litecoin, it makes sense to take his moves seriously. That’s because Bitcoin will still emerge as the biggest winner once crypto goes mainstream. Its position at the top is pretty much cemented at this point, and its chances of rising are getting better. With solutions like the lightning network, most of the problems facing BTC such as transaction costs and speeds will become irrelevant over time.
This will see BTC whitewash all the other coins angling for the payments market. This will drive up its dominance in the market and by extension its value. Besides, Bitcoin is the only one drawing the interest of institutional money at this point. All the big ETFs that are being talked about at this point revolve around BTC. Once the big money starts flowing in, Bitcoin could very easily skyrocket past $100k. As such, just like in December when Charlie Lee sold his coins, it makes sense to stock up on BTC instead of criticizing him for saying that it people should own at least one bitcoin before any other coin.
The same goes for his interest in Monero (XMR). Recently, Charlie said that Monero (XMR) is a project that he is interested in, for its privacy and fungibility. Again this is one coin that has what it takes to succeed in the long run. Monero’s privacy and fungibility ensure that it will always draw in people looking to move wealth without getting traced.
The need for privacy in moving wealth was there before crypto and will always be there. As such, long-term Monero pretty much has a guaranteed long-term growth and could skyrocket in a bull run. As such, anyone following Charlie Lee and getting into Monero (XMR) could be in for some massive gains going into the future. Lastly, Charlie Lee has been speaking up Litecoin (LTC) as a sidechain to Bitcoin (BTC). This would tie Litecoin (LTC) to bitcoin (BTC) even more, and give it the impetus to rise as bitcoin rises.
Clearly, Charlie is a person who understands this market quite well and shares his honest views on it, irrespective of whether his opinions are related to Litecoin (LTC) or not. In the long run, anyone who takes hints from what Charlie Lee says could get extremely wealthy in this market. Some even suspect that he could be Satoshi Nakamoto, or part of the group that is Satoshi Nakamoto if it is not an individual.