MEI Pharma (NASDAQ: MEIP) has invested $100 million in Litecoin as its primary treasury reserve asset, marking the first such allocation by a U.S.-listed company. The unprecedented move positions Litecoin alongside traditional treasury holdings while signaling growing institutional diversification beyond Bitcoin and Ethereum benchmarks.
The strategic acquisition occurred on August 4, triggering immediate market momentum that elevated Litecoin’s price from $107.58 to $124 per LTC. This price appreciation reflects heightened investor confidence following the announcement and demonstrates Litecoin’s increasing acceptance as a viable institutional asset class.
Industry analysts view MEI Pharma’s allocation as a milestone for cryptocurrency adoption, highlighting Litecoin’s potential to enhance portfolio diversification for public companies. The investment is expected to bolster Litecoin’s market liquidity and trading stability, potentially encouraging broader corporate treasury adoption of alternative digital assets.