MEI Pharma plans to raise $100 million in a private placement to invest in Litecoin, adding Charlie Lee to its board. The move comes as Bitcoin hits record highs and other companies like Trump Media embrace cryptocurrency.

Litecoin is up 12.6% from last Friday, prompting MEI Pharma to pursue a $100 million private placement to accumulate the cryptocurrency. Charlie Lee, Litecoin’s creator, joins the company’s board.

MEI Pharma is following companies like Trump Media in adding cryptocurrency to its books, betting on future appreciation. The choice of Litecoin is unique, making it the first publicly traded company on a major exchange to do so.

Bitcoin broke records hitting $120,000 for the first time, fueling market enthusiasm as Congress considers crypto regulations. Litecoin follows Bitcoin’s movement, but some investors may prefer Bitcoin for investment.

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Read more at Yahoo Finance: Why Litecoin Soared Over the Weekend