Lux Folio Holdings, a publicly traded Canadian company, has announced that it has decided to adopt Litecoin (LTC) as its reserve asset.
The company has based the decision on its ability to protect potential value in the future.
Lux Folio stated in its official tweet that one of the specific reasons for choosing Litecoin is its growing economic activity and relatively low speculative demand, which makes it a stable and excellent store of value in the future.
The decision is being considered a significant step in the cryptocurrency space as Litecoin is generally seen as a lightweight and fast alternative to Bitcoin.
According to Luxfolio, the company expects Litecoin to be a safe and reliable store of value for investors in the future, given its low volatility and increasing economic activity.
The company also expects the move to further increase the use and acceptance of cryptocurrencies.
This decision comes at a time when the importance and diversity of different assets in the cryptocurrency world are increasing.
Luxfolio’s decision is also seen as a sign of confidence in the future of cryptocurrencies in the market.
This move will not only increase Litecoin’s credibility, but other institutions may also consider making crypto assets part of their financial plans.
Overall, this move by Luxfolio Holdings is a positive development in the global acceptance and use of cryptocurrency, which will further strengthen the role of cryptocurrencies in the financial world in the future.