Summary
- US-listed MEI Pharma announced the purchase of Litecoin (LTC) worth approximately ₩110.4 billion.
- This acquisition was made as part of a strategy jointly developed with virtual asset investment firm GSR, with Litecoin creator Charlie Lee participating as an advisor.
- MEI Pharma also stated that it is reviewing additional follow-up plans such as a potential corporate name change and entry into the Litecoin mining business.
US-listed pharmaceutical company MEI Pharma announced that it has acquired a total of ₩110.4 billion (approximately $110.4 million) worth of Litecoin (LTC).
According to BusinessWire on the 5th (local time), MEI Pharma revealed that it purchased 929,548 Litecoins at an average price of $107.58 each between the 30th of last month and the 4th of this month. Based on the current market price, the total value of these assets reaches approximately $110.4 million (about ₩143 billion).
This strategy was jointly developed with virtual asset investment firm GSR, and Charlie Lee, the creator of Litecoin and a current MEI board member, participated as an advisor in the formulation of the strategy.
Charlie Lee stated, "Litecoin has functioned as a stable and scalable decentralized currency for a long time," and evaluated, "MEI's strategy represents a move to recognize and actively utilize this within the institutional financial system."
According to the media, MEI is also considering future plans such as a potential corporate name change and entering the Litecoin mining business.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
