Charlie Lee, the founder of Litecoin is recently spoken to Chinese media, Jinse.com during which he discusses some of his thoughts surrounding Bitcoin, Litecoin and XRP. During this discussion, according to Ethereum World News, Lee refers to Bitcoin as Gold, Litecoin as Silver and XRP as Diamond. I think he’s referring to the valuable elements of Gold, Silver and Diamond here as opposed to Pokémon games, but I could be wrong.
I find Lee to be quite a likeable character. Though he has had many controversial arguments and of course, has been at the fore of some criticism for his movements within Litecoin, I still believe that he is mostly honest, down to earth and actually the sort of crypto celebrity a lot of investors could learn from, as opposed to some of the other, more arrogant personalities that seem to surround the industry.
With this in mind, Lee is not a financial advisor so therefore, his words should not be taken as investment advice, instead, they should only be used to compliment your own research.
So, according to Ethereum World News, here’s what Lee had to say.
Lee refers to Bitcoin as the digital version of Gold, stating that:
“Bitcoin doesn’t need to face storage problems; it’s also very convenient to transfer. For me, he is better than gold in many places. If you are more optimistic, the market value of Bitcoin may be more than the 10 trillion market value of gold. More than 100 times the upside.”
Next up, Lee then discusses his birth child, Litecoin, referring to it as Silver, a faster but slightly less traded version of gold that can still compliment it. According to Ethereum World News, Lee states:
“Litecoin (LTC) is trading four times faster than Bitcoin (BTC) but Bitcoin is more used. At present, the user base of Bitcoin and Litecoin is relatively close. Many people use Bitcoin and Litecoin at the same time.”
Finally, Lee discusses XRP. To Lee, XRP is Diamond, simply because it is highly centralised but still promises to grow in the future. Lee states:
“There are many possibilities (of finding and altcoin to resemble value), but Ripple is somewhat like a diamond because its supply is also artificially controlled. And diamonds are actually advertising … If you want to buy a Ripple for marriage, it is very valuable, haha!”
There you have it, if you are about to propose, forget a Diamond ring, just purchase some XRP instead?
Lee’s perspective is interesting and insightful. Moreover, this sort of news is important as Lee is an expert in his field. By contributing to some unbiased debate, it’s great to see how Lee views the markets at the moment. Through this, we can gain a better understanding of what he believes will happen in the future. Yes, maybe one day people will propose using XRP instead of Diamond, who knows?