First Strategy, Now MEI Pharma: Litecoin Joins Bitcoin As Treasury Asset
MEI Pharma (NASDAQ:MEIP) has launched a $100 million Litecoin (CRYPTO: LTC) treasury program, backed by Titan Partners Group and crypto investment firm GSR.
The move includes the appointment of Charlie Lee, the creator of Litecoin, to MEI's Board of Directors.
The Litecoin Foundation has also taken an investment position in MEI as part of the initiative.
The company's stock rose sharply from $4.20 to $11.45 following the announcement, before retracing to $6.00, reflecting market volatility after a significant change in strategic direction.
"For 14 years, Litecoin has consistently delivered a stable, low-cost, and accessible network for millions," said Lee.
"This partnership with GSR and MEI Pharma brings that utility and mission into an institutional setting for the first time."
MEI joins a growing number of public companies allocating capital to cryptocurrencies as part of their treasury management.
Also Read: $67M For More ETH: Bit Digital Expands Its Ethereum Treasury Beyond 120,000 Coins
Notable corporate treasury allocations in crypto:
- Strategy began purchasing Bitcoin in August 2020, making it the largest public corporate holder of Bitcoin.
- Tesla disclosed a $1.5 billion Bitcoin investment in early 2021, and though it later sold portions, it retained part of its BTC holdings on the balance sheet as of 2024 filings.
- Bit Digital revealed in July 2025 that it had expanded its Ethereum holdings to over 120,000 ETH, part of a strategy that includes staking and validator operations.
MEI's Litecoin strategy is notable in that it centers entirely on LTC rather than Bitcoin or Ethereum.
Litecoin, launched in 2011, is often used in payment applications and is supported by processors such as BitPay.
As of today, MEI Pharma becomes the most prominent U.S.-listed company to formally allocate a nine-figure treasury position solely in Litecoin.
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Posted-In: Cryptocurrency News
