Mei Pharma launches Treasury from Litecoin with the guide of the founder of the cryptocurrency
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Mei already has about 100 million dollars in Litecoin (LTC) in its possession.
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In addition, he will continue with his pharmaceutical industry business simultaneously.
Mei Pharma, a pharmaceutical company that lies in Nasdaq, completed in July a private placement of ordinary shares to acquire 100 million dollars in Litecoin (LTC) as part of its treasury strategy.
The company appealed to GSR, a firm specialized in investments in cryptocurrencies, To act as an advisor in the management of these digital assets And supervise the implementation of this initiative, explains a statement.
The transaction, according to Mei, represents a key step in its long -term strategic plan, positioning it as “the first public company to adopt Litecoin as the Treasury Reserve Assets,” says the company.
Charlie Lee, founder of Litecoin, together with GSR and the Litecoin Foundation, They led the investment, accompanied by risk capital signatures and infrastructure suppliers such as Mozayyx, Parafi, Hivemind, Primitive, RLH Capital and Delta Blockchain, among others.
The adoption of Litecoin has promoted the value of Mei’s actions. In June, the shares were quoted at $ 2, they reached a maximum of $ 8 in July and are currently stabilized in $ 5 per share.
This movement reflects a strategy similar to that of companies such as Strategy, which have incorporated Bitcoin (BTC) in their treasureries, as reported by cryptootics. Besides, reinforces the perception of Litecoin as a viable option for corporate reserves.
In addition, Mei will keep your focus on the pharmaceutical industry while managing this cryptocurrency treasury. Unlike other companies that, after adopting digital assets, have abandoned their original operations to focus exclusively on cryptocurrencies, Mei seeks to balance both fronts, integrating financial innovation with their main business.
