Litecoin creator Charlie Lee says the current Bitcoin price slump will be temporary and believes the long-term outlook for the digital currency is positive.
Speaking to Alex Saunders from Nugget’s News, Lee said, “the price will definitely go a lot higher.”
“I don’t know where it’ll end up.
“In 2013, we had a huge run up from $200 to $1200. That was a huge run up.”
“I think we’ll see more of these .. Hang on for dear life!
Asked what he sees happening in the crypto market in the coming years, Lee said he believes adoption will increase significantly.
“I don’t know how long this will take, but people will be sending value using cryptocurrency without even realising it.
“When you’re watching a Netflix movie. You don’t care how the bytes are getting to you.”
Charlie Lee has become one of the world’s largest “crypto celebrities” and doesn’t always feel comfortable about it.
“I can’t say anything in public without half the people being upset,” he said.
However, he believes the fact he isn’t anonymous has its advantages for Litecoin.
“We can be more efficient because I can tell people my vision and what I want Litecoin to lead towards. It’s easier for me to conivce the supporters to go along with my vision.”
The former Coinbase engineer is in Australia for a brief visit and has been enjoying the local attractions.
He visited the Blue Mountains, climbed the Sydney Harbour bridge and lost money playing poker at the casino.
“Tomorrow I’m going to the Sydney Opera House,” he said.