MEI Pharma has established a $100 million corporate fund dedicated to Litecoin (LTC) and appointed cryptocurrency pioneer Charlie Lee, the creator of Litecoin, to its board of directors. This initiative highlights accelerating corporate adoption of digital assets as hedges against fiat currency inflation while strengthening Litecoin’s institutional credibility.
Litecoin demonstrated robust market momentum with a 41.64% price appreciation over 90 days and a market capitalization exceeding $8 billion prior to the announcement. The strategic move immediately catalyzed market reactions: MEI Pharma’s stock surged 85% in premarket trading, while Litecoin’s 24-hour trading volume jumped 77%.
Charlie Lee’s board membership provides MEI Pharma with direct access to technical expertise and strategic guidance for its Litecoin holdings. Analysts suggest the fund could pioneer corporate treasury diversification models, positioning Litecoin as a cost-effective asset for liquidity optimization amid increasing institutional interest in cryptocurrency reserves.