$LTC MEI Pharma, the first among publicly traded companies in the USA, announced the creation of a Litecoin reserve. The pharmaceutical company acquired 929,548 LTC for $110.4 million, according to a press release.
The initiative was implemented in collaboration with the GSR fund with the participation of Charlie Lee — the creator of Litecoin and a member of the board of directors of MEI. The company views cryptocurrency as a long-term store of value.
Litecoin has long embodied stable, scalable, and decentralized money. MEI's strategy confirms its status as a reserve asset and a component of the global financial infrastructure.”
