Charlie Lee: Just buy Bitcoin and forget about other cryptocurrencies.

Buying and holding bitcoins without actively investing in the cryptocurrency market is easier and more profitable than creating and managing your own project, said Litecoin co-founder Charlie Lee.

Charlie Lee, speaking on the CoinDesk Spotlight podcast, admitted that he regrets the time and effort he spent creating his altcoin, and that if he could do it all over again, he would focus solely on buying and holding Bitcoin.

“Creating Litecoin didn't increase my wealth; on the contrary, it became a constant headache. If I could go back, I'd just buy Bitcoin, put it aside, and remain anonymous to everyone,” the entrepreneur said.

Lee said Litecoin is often positioned as “silver to Bitcoin,” with additional features like faster transactions. However, Lee believes these advantages don't compensate for his personal responsibility to the community and the challenges associated with managing the project.

“Creating something like Litecoin in the early days of cryptocurrency was exciting. However, from today's perspective, simply holding Bitcoin would have been a simpler and more effective strategy,” lamented Charlie Lee.

The truth is that the world doesn't need a “faster Bitcoin,” but it desperately needs the most “solid and secure” cryptocurrencies, Litecoin's creator explained.

Earlier, Cardano blockchain founder Charles Hoskinson announced the start of negotiations that should result in an agreement to integrate his project with Litecoin.

Source: cryptonews.net