He claims that the biggest meme cryptocurrency is ready to bring a lot of people into the space.
Lee also praised centibillionaire Elon Musk for turning cryptocurrencies into “a mainstream topic.”
Dogecoin was launched as a fork of the now-defunct Litecoin fork called “Lucky Coin” back in December 2013.
The parody coin quickly gained a substantial level of popularity, but its mainstream breakthrough happed only in 2021.
Lee, who infamously sold his Litecoin stash right on the verge of the big crash in early 2018 and faced insider trading accusations, says that Bitcoin is currently his biggest holding. He refuses to invest in his brainchild because he wants to focus on the project’s tech aspects without worrying about how they might affect the coin’s price.
A privacy-focused upgrade
Litecoin, one of the oldest altcoins, is a fork of the Bitcoin blockchain that appeared all the way back in 2011.
The O.G. cryptocurrency recently made headlines after launching the much-hyped Mimblewimble upgrade that was initially announced in 2019. Named after a tongue-tying spell from the Harry Potter universe, it allows users to enhance their financial privacy by hiding transaction information.
Lee says that people will be able to spend money without worrying about privacy issues since the amount of each transaction will only be visible to the sender and the recipient.
Litecoin remains the 22nd biggest cryptocurrency by market capitalization.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.