Bitcoin News Today: MEI Pharma Allocates $100M to Litecoin as Core Treasury Asset

MEI Pharma, a biotechnology firm listed on NASDAQ, has made a notable move in corporate treasury strategy by acquiring 929,548 Litecoin (LTC) tokens at an average price of $107.58, amounting to approximately $100 million [1]. This acquisition marks the first time a publicly traded U.S. company has designated Litecoin as a primary reserve asset, diverging from the more commonly adopted Bitcoin or Ethereum [2].

The initiative is part of a broader $100 million institutional treasury strategy, developed in collaboration with cryptocurrency market maker GSR and Litecoin's founder, Charlie Lee, who also serves on MEI’s board [1]. According to the company, the decision to allocate funds to Litecoin was based on the asset’s long-standing reliability, low transaction fees, fast settlement times, and integration with major platforms such as PayPal, BitPay, and Robinhood [1].

The move is seen as a strategic step to diversify capital reserves, hedge against inflation, and explore the growing role of digital assets in corporate finance [2]. Unlike other firms that maintain diversified crypto portfolios—including Bitcoin holdings by companies such as Tesla, Coinbase, and Galaxy Digital—MEI has uniquely committed to Litecoin as its core digital asset [1].

MEI also indicated that the shift is part of a larger corporate transformation, with potential future moves into fintech and even Litecoin mining [1]. However, the company emphasized that its core focus on drug development—particularly its pre-clinical CDK9 inhibitor, voruciclib—remains unchanged [1].

The announcement has already had a measurable impact on the market. Litecoin saw a price increase following the news, with analysts attributing the rise to growing institutional interest and MEI’s bold treasury strategy [2]. The move also signals a broader acceptance of digital assets in corporate financial planning, potentially encouraging other firms to adopt similar strategies [3].

MEI Pharma’s decision reflects a forward-looking approach to corporate treasury management, leveraging the strengths of a well-established digital currency while navigating the evolving landscape of institutional crypto adoption [4].

Source:

[1] MEI Pharma Chooses Not Bitcoin, Not Ethereum, But Litecoin As Treasury Asset – https://finance.yahoo.com/news/mei-pharma-chooses-not-bitcoin-143823425.html

[2] MEI Pharma's Litecoin treasury purchase sets off LTC rally – https://www.mitrade.com/insights/news/live-news/article-3-1013971-20250805

[3] Litecoin: Nasdaq-Listed MEI Pharma's Bold $100M Crypto – https://bitcoinworld.co.in/mei-pharma-litecoin-leap/

[4] MEI Pharma buys $100 million of Litecoin as treasury asset – https://www.theblock.co/post/365645/mei-pharma-litecoin-treasury-strategy-charlie-lee-gsr?utm_medium=rss&utm_source=news.xml