Litecoin, the digital currency otherwise known as, “the silver to Bitcoin’s gold,” has surpassed $US25 in value, reaching as much as $US28.50.
It’s up 400% in the past week.
We profiled Litecoin earlier this week. Its creator, Charlie Lee, an MIT grad and former Googler, designed Litecoin in 2011 to be used for everyday transactions as the price of Bitcoin climbs, as well as to thwart a cartel of miners from cornering the market.
“I think Satoshi [Nakamoto, Bitcoin’s pseudonymous creator] is great, and Bitcoin is awesome,” Lee told us. “I didn’t fix Bitcoin. I just made small changes that made [Litecoin] a little bit better.”
Here’s the chart: