The man who called the bitcoin rally sees this for litecoin from CNBC.
One of the leading Wall Street veterans now investing in cryptocurrencies said Tuesday he would sell digital currency litecoin after its surge.
“I don’t think it will have the same legs that bitcoin would. I would sell it here versus buying bitcoin,” Michael Novogratz, formerly a macro hedge fund manager at Fortress Investment Group, said on CNBC’s “Fast Money.”
Litecoin briefly climbed 59.5 percent for the day to a record high of $341.72, up more than 7,700 percent this year, according to CoinMarketCap. At one point, litecoin was up more than 70 percent over the last 24 hours. The website showed the digital currency had a market value of $18 billion, ranking fourth behind bitcoin, ethereum and bitcoin cash.