Canadian company Luxxfolio intends to invest $100 million into Litecoin's treasury

In a significant move for the cryptocurrency industry, U.S.-listed pharmaceutical firm MEI Pharma (NASDAQ: MEIP) has announced the acquisition of $100 million worth of Litecoin. This makes MEI Pharma the first American company to adopt Litecoin as its main treasury asset.

The acquisition, structured as a private investment in public equity (PIPE) deal, was led by crypto capital markets firm GSR. The deal was advised and led by Litecoin founder Charlie Lee and crypto specialists from GSR.

Meanwhile, Luxxfolio Holdings Inc., another company with a focus on Litecoin, has been experiencing a shift in its financials. In Q2 2025, Luxxfolio lost $197,000, a significant increase from the $8,000 lost in the same quarter last year. However, Luxxfolio aims to hold 1 million Litecoins by 2026.

CEO Tomek Antoniak stated that the funds raised would help expand the company's infrastructure and support merchant payments, stablecoins, and crypto wallets. Luxxfolio ended the quarter with just $112,000 in cash and relied on a private placement of $844,000 to stay operational.

The funds raised will be used to expand Luxxfolio's Litecoin-focused treasury strategy. It's worth noting that Luxxfolio shifted its treasury from Bitcoin to Litecoin earlier this year, considering it as "hard currency."

This strategy could pique institutional interest when these cryptocurrencies prove useful in the real world. Industry experts caution that simply holding Litecoin is not enough for institutions. They emphasize the need for companies to have a clear strategy for utilising these assets.

Elsewhere, DeFi Dev Corp has also expanded its Solana treasury with a $77M purchase, indicating a rising trend of companies holding altcoins like Litecoin and Solana in their treasuries.

With Litecoin now trading around $124, MEI's Litecoin holdings are worth roughly $115 million. MEI bought 929,548 LTC between July 30 and August 4 at an average price of $107.58.

GSR will act as MEI's digital asset treasury manager and strategic advisor. MEI Pharma acquired Litecoin worth over 100 million US dollars in July 2025, a deal that marks a significant step forward for the adoption of Litecoin by mainstream companies.

Since 2017, Luxxfolio has recorded nearly $19 million in losses. This news comes as a turning point for the company, as it looks to leverage its Litecoin holdings to drive future growth.

Canadian company Luxxfolio intends to invest $100 million into Litecoin's treasury