The founder of “cryptocurrency silver” – Litecoin – Charlie Lee finally commented Michael Novogratz statement to sell LTC and buy BTC. Recall that just a few days ago, namely, on April 3, 2019, the head of Galaxy Digital company Michael Novogratz made a publication on his Twitter, where he compared the capitalization of gold and silver, and also drew a parallel between Bitcoin and Litecoin.
Gold has an $8.5 trillion dollar market cap. Silver is $15bn That is .17%. $BTC has a $90bn mkt cap. $ltc is $5.7bn which is 6.4% of $BTC. Silver is at least useful for industrial production. $ltc is a glorified test net for $btc. I don't get this rally. Sell $ltc buy $btc.
— Michael Novogratz (@novogratz) April 3, 2019
This announcement was nothing more than a call to sell LTC and buy BTC.
A few days later, the founder of Litecoin cryptocurrency Charlie Lee finally commented on Novogratz`s statement. It is worth noting that he strongly disagrees with his opinion. Lee believes that the Litecoin platform is currently one of the most productive on the market, so it cannot be a “test version of the Bitcoin network”. The software “Lightning Network”, because of which the throughput of the first cryptocurrency has significantly improved, will in no way be able to reduce the influence of Litecoin on the market.
Litecoin a glorified testnet?
BTC LN makes LTC useless?
Can't be more wrong!
High BTC fees? With https://t.co/Q6tfOYkIbb, just do a cross chain submarine swap from LTC on-chain to BTC⚡️. Send LTC to fill up your BTC⚡️ wallet! 🤯
— Charlie Lee [LTC⚡] (@SatoshiLite) April 4, 2019
At the end of his post, Charlie Lee also remembered the new service – Boltz, through which it is now possible to conduct fast and secure exchange operations between LTC and BTC with minimal fees. This software has actually become a link between cryptocurrency blockchains. All these achievements, according to Charlie Lee, have a positive effect on the dynamics of the Litecoin platform development.
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