MEI Pharma’s $100M Litecoin Investment Signals Potential Shift in Corporate Treasury Strategies

Key Points

1. MEI Pharma executed a $100 million private placement to acquire Litecoin (LTC) as a reserve asset, issuing approximately 29.24 million shares at $3.42 each.

2. Charlie Lee, Litecoin's creator, was appointed to MEI Pharma's board to guide the company's digital asset strategy and foster blockchain integration.

3. Following the announcement, MEI Pharma's share price surged from $4.20 to $11.45, and Litecoin's trading volume and price showed positive momentum.

4. Litecoin's price appreciation of approximately 42.90% over the past quarter highlights growing investor interest and validates MEI Pharma's timing in entering the altcoin market.

5. MEI Pharma's move follows precedents set by firms like MicroStrategy and Tesla, indicating a broader trend of corporate treasury diversification into cryptocurrencies.