The Litecoin (LTC) founder, Charlie Lee, has said in a recent interview with Bloomberg that "some coins die, and the strong will survive."
Lee is convinced that only increased use by merchants may bring the previous crypto hype back to live
Last year, on the eve of 2018, Lee took the decision to sell off all of his holdings in the cryptocurrency he created. Back then, the reason for that was to prevent a "conflict of interest."
Nowadays, the Litecoin founder claims he had no inside info and doesn’t understand why people blame him for the crypto fall.
"People lose money and they want someone to blame. And they think for some reason I had inside information, and that’s silly. At the time when I sold, everyone thought it would go to $1,000," Lee said in an interview.
However, Lee is also convinced that scams and shit coins played their role in the current state of affairs.
"There’s obviously a lot of scams and currencies not useful at all, and those values will plummet. You are going to see some coins die, and the strong will survive," Lee said.