The world still considers bitcoin as the poster boy of the digital currency industry, and it is right to do so. However, Charlie Lee, Litecoin founder believes that Bitcoin is not alone in this. He names Ethereum and Litecoin as well as bitcoin as poster boy currencies as well.
Ethereum (ETH) Price Today – ETH / USD
The inspiration behind the thought
Lee tweeted his thoughts on this issues saying that Ethereum, Bitcoin and Litecoin are Bellwether cryptocurrencies because they are the only coins traded on all the main crypto exchanges. They can also be stored on all hardware wallets. He stated that this was not possible with all other coins because they are not listed on all exchanges, and it is not easy to transfer them to a hardware wallet.
The tweet fetched a few comments where users suggested a couple of coins that fit into the category which was used to categorize the top cryptocurrencies. Another user suggested Dogecoin and DigitByteCoin as a match to the earlier mentioned ones. A different user believed Lee was bashing Bitcoin Cash.
Bitcoin remains on top
The Litecoin founder’s opinion seems correct based on the criteria, but it is still believed that BTC is the ultimate bellwether. Lee is a fan of bitcoin as well, and he revealed that bitcoin inspired him to develop Litecoin in the Money 2020 Conference. He also lauded cryptos as the best money forms that man has created.
Lee spoke at the conference and emphasized the importance of the privacy of coins. He also talked about the fungibility of different digital currencies. Charlie said that BTC was not fungible because its transaction origins can be traced easily. Also, when someone sends bitcoin, they can see the amount of bitcoin the recipient owns.
Comparing this to lesser coins, such as Zcash and Monero who have invested in enhancing and securing the privacy of transactions. Lee believes that these altcoins are taking over the crypto industry.