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Why Litecoin Soared Over the Weekend
Litecoin is on the rise. As of 3:19 p.m. ET on Monday, the crypto was up 12.6% from last Friday at 4 p.m. ET. MEI Pharma announced on Friday that it will initiate a $100 million private placement in order to pursue a Litecoin accumulation strategy. The company also appointed Charlie Lee, the creator of Litecoin, to its board. Following in the footsteps of companies like Strategy (formerly known as MicroStrategy), Trump Media, and GameStop, MEI Pharma will raise money in order to add a large amount of cryptocurrency to its books, betting that it will appreciate significantly over time. However, MEI's choice of ... (full story)
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