Cryptocurrency analysts have calculated how many Litecoin tokens you need to buy to become a millionaire

Editor’s note: not financial advice! BeInCrypto analysts have calculated how many tokens of one of the most famous blockchain projects Litecoin you need to buy to become a millionaire. The experts used the formula: number of Litecoins = target amount / expected future price. In this case, the target amount was $ 1 million, and the expected future price was the historical maximum of $ 410.26. Thus, to see the amount of $ 1 million on the account, you need to buy 2,437 LTC. At the current price of $ 65.22, the value of the coins will be about $ 155,863. However, it should be understood that the crypto market can be extremely volatile and influenced by various events in the world. These calculations are based solely on current data and assumptions. Currently, the digital asset is ranked 18th in the list of the most capitalized cryptocurrencies with a value of $ 4.73 billion. Litecoin is a global decentralized P2P payment network that was launched in 2011. The developer Charlie Lee wanted to improve the BTC blockchain by using a different mining algorithm and reducing the time for transaction confirmation. Both networks use the Proof-of-Work consensus. Initially, Charlie Lee did all the work related to the project development. At the same time, he worked at Google and, since 2013, at the American cryptocurrency exchange Coinbase. In the summer of 2017, he left his position and decided to focus entirely on Litecoin: the developer opened a non-profit organization Litecoin Foundation in Singapore and became its managing director. The foundation financially supports the Litecoin Core team, which includes the project developers and several specialists. In December 2017, Charlie Lee sold all his LTC tokens to the Litecoin Foundation. He explained that he wanted to reduce his influence on the LTC community and the price of the token.