The American pharmaceutical company MEI Pharma stunned the market by investing $110 million in Litecoin. The company acquired 929,548$LTC at an average price of $107.58, announcing cryptocurrency as its primary reserve asset — the first among public companies in the U.S.
Institutional alliance: MEI, GSR, and Charlie Lee.
The investment strategy was developed in partnership with GSR and with the involvement of Litecoin creator Charlie Lee, who is now a board member of MEI. According to Lee, Litecoin has shown stability for over 13 years, has low fees, and instant transactions, making it ideal for corporate financial operations.
GSR's strategy director Joshua Ritzman noted that MEI's model could serve as a template for other companies looking to integrate digital assets into capital management structures. He emphasized that such transformation is based on experience and reliable execution.
MEI Pharma also announced a brand update and is considering launching its own mining.$LTC This will complement their scientific projects, including the research of the CDK9 inhibitor — a potential next-generation drug.
The company believes that integrating cryptocurrency into finance is a strategic step towards innovation and long-term stability.
