Litecoin (LTC/USD) creator Charlie Lee has sold off all of his holdings in the cryptocurrency he created, CNBC reported.
Lee, who founded litecoin in 2011, said on Reddit Wednesday that he had "sold and donated" all of his Litecoin tokens over the past few days — except for some physical ones he keeps as "collectibles."
The disposal is aimed at preventing a “conflict of interest” when Lee makes comments on social media about the digital currency that could influence its price, he said.
“Litecoin has been very good for me financially, so I am well off enough that I no longer need to tie my financial success to Litecoin’s success,” Lee said.
“For the first time in 6+ years, I no longer own a single LTC” other than a few collector’s coins,” he said.
Lee insisted in his post that his sale wasn’t a sign that he has lost faith in the cryptocurrency.
“I will still spend all my time working on Litecoin,” he said. “When Litecoin succeeds, I will still be rewarded in lots of different ways, just not directly via ownership of coins.”
Litecoin has climbed more than 9% percent in the past five days to $330.07, according to data from coinmarketcap.com.