MEI Pharma has become the first public company in the United States to recognize Litecoin as its primary reserve asset. This announcement has generated significant interest in the cryptocurrency.
Purchase of Litecoin for $100 Million
In July 2023, Nasdaq-listed MEI Pharma announced its strategy for a crypto reserve, selecting Litecoin (LTC) as its primary asset. Under this strategy, the company purchased 929,548 Litecoin at an average price of $107.58, establishing its LTC reserve at approximately $110.4 million as of August 4, 2025.
Advisors from Litecoin Founder and GSR
In implementing its strategy, MEI Pharma collaborates with Charlie Lee, the founder of Litecoin, and GSR, who act as advisors. This initiative highlights the company's inclination towards embracing new financial technologies.
Role of Litecoin in Global Financial Systems
Charlie Lee stated that Litecoin has long been a symbol of a robust, scalable, and decentralized currency. He added, 'By launching this strategy, MEI is taking a clear, institutional step that recognizes Litecoin's role as both a reserve asset and an integral part of global financial systems.'
In conclusion, MEI Pharma has made a significant move by recognizing Litecoin as its primary reserve asset, opening new avenues for the utilization of cryptocurrencies in financial structures.
