Charlie Lee, the creator of Litecoin, has admitted that selling his LTC stake late last year may not have been the best decision when viewed from a short-term perspective.

During a candid interview with Julian Hosp, the founder of TenX, Lee stated that currently, with LTC being well below the all-time high of $374 it reached last year in December, he was second-guessing his decision.

“I still think it was the right move but I question whether — I think in the long run it was the right move but in the short term while the price is down, below the all-time high, it just feels like it's not the right decision.”

In December 2017/January 2018, when the crypto market was touching all-time highs and Bitcoin was priced at around $20,000, Litecoin (which closely follows Bitcoin’s price movement) soared to a record-breaking price of $374.

The price surge was also, in part, driven by Charlie's appearance on CNBC, where he spoke about Litecoin and cryptocurrencies in general.

While Litecoin holders were ecstatic about the price gains (considering LTC was priced at around $4 at the start of 2017), the mood dampened considerably when Charlie Lee suddenly announced that he had sold all his LTC to avoid a conflict of interest.

The announcement shook investors’ faith in LTC, causing the price to take a downward turn, and the move was heavily criticized as a show of weakness and poor leadership.

In his interview with Hosp, Lee (a former employee of Google and Coinbase) maintained that while things look grim right now, he expects his decision to contribute to the long-term success of LTC.

“But I think like, moving forward, five years down the road, when the price is back to the all-time high, I feel like it will be the right move.”

He also went on to add that the decision to sell his holdings was the “first step” toward making Litecoin a fully decentralized cryptocurrency, and that he intends to eventually relinquish all control over the cryptocurrency.

“For a currency to really be a worldwide, decentralized currency, you can't have a leader trying to control things. To make it more decentralized eventually I'll step away.”