Litecoin (LTC) creator Charlie Lee has advised cryptocurrency investors to buy Bitcoin (BTC) before any other asset – including Litecoin.
Bitcoin First, ‘Shitcoins’ Later
In a tweet dated July 17, Lee, who continues to pour time into Litecoin development and partnerships despite selling his own holdings earlier this year, appeared to refer to his creation as a “shitcoin.”
“There will be at most 21 million bitcoins in existence. There isn’t even enough BTC to go around for EVERY millionaire to own one. So before you buy any other coin (LTC included), try to own at least 1 BTC first,” he wrote.
“Once you have 1 BTC, buy all the shitcoins you want!”
There will be at most 21 million bitcoins in existence. There isn’t even enough BTC to go around for EVERY millionaire to own one. So before you buy any other coin (LTC included), try to own at least 1 BTC first.
Once you have 1 BTC, buy all the shitcoins you want!
— Charlie Lee [LTC
] (@SatoshiLite) July 17, 2018
Lee has frequently championed the potential behind Bitcoin and Litecoin in recent months, last week describing the two coins’ Lightning Network implementation as “the ultimate decentralized exchange.”
Litecoin Investors Wait For A Break
Other moves involving Litecoin specifically, including a partnership with TokenPay to acquire 9.9 percent of a German bank this week, have drawn criticism, with trader Tone Vays publicly implying that Lee partnered with a “scam” company purely for financial gain.
Lee nonetheless vigorously defended the latest Bitcoin plug in the face of comments from those surprised by an apparent snub of Litecoin by its own developer.
Responding to other Litecoin investors, however, Lee appeared to stop short of telling them to sell their holdings for Bitcoin.
“…Do sell your shitcoins for BTC and LTC,” he added.
Litecoin investors have failed to see much action this year as prices remain on a slow downward trajectory, passing below $80 for the first time since November in late June and hovering around those levels since.
Prospective investors appear unfazed by fiat value, meanwhile, with recent surveys of US and South African markets revealing consumers still regret not buying in.
What do you think about Charlie Lee’s investment advice? Let us know in the comments section!
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