Litecoin (LTC) surged over 10% on July 18, 2025, reaching an intraday high of $111.40, following a groundbreaking announcement by MEI Pharma, a Nasdaq-listed biotech company. The firm revealed plans to raise $100 million via a private stock sale to fund a bold Litecoin treasury strategy, potentially making it the first public company to adopt LTC as a primary reserve asset.
$100 Million Investment Signals Institutional Confidence in Litecoin
MEI Pharma will sell approximately 29.2 million shares at $3.42 each through a private investment in public equity (PIPE) offering, expected to close around July 22. Upon completion, 100% of the net proceeds will be used to purchase Litecoin, according to the company’s official statement.
This move positions MEI as the first publicly traded firm to formally adopt Litecoin in its treasury, setting a potential precedent for broader institutional adoption of alternative digital assets beyond Bitcoin and Ethereum.
Charlie Lee Joins MEI Board, GSR to Manage Litecoin Reserves
Charlie Lee, creator of Litecoin and one of the most influential figures in the crypto industry, is set to join MEI’s board of directors following the deal’s closing. He also participated in the PIPE as a lead investor, signaling deep personal commitment to the initiative.
The firm has appointed GSR, a globally recognized digital asset trading firm, to manage its planned Litecoin holdings. Other major participants in the raise include ParaFi, CoinFund, Hivemind, MOZAYYX, Primitive, and RLH Capital, as well as the Litecoin Foundation.
Why Litecoin? Speed, Uptime, and Reliability
MEI cited Litecoin’s low fees, network uptime, and proven reliability as key drivers of its decision. The company sees this treasury strategy as part of a long-term diversification plan aligned with blockchain innovation and financial resilience.
“This milestone not only reflects growing institutional confidence in LTC but also sets the stage for broader adoption in traditional capital markets,” said Charlie Lee.
Market Context: Policy Momentum and Altcoin Season
The move also coincides with the House’s recent passage of the GENIUS Act, designed to accelerate blockchain innovation in the U.S., and anticipation of the CLARITY Act, which could bring regulatory certainty to digital assets. Together, these policy developments have fueled renewed investor interest across the altcoin market.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.