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Finance

Why Litecoin Soared Over the Weekend

Last updated: July 21, 2025 4:40 pm
Oliver James
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4 Min Read
Why Litecoin Soared Over the Weekend
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Key Points

  • MEI Pharma announced a $100 million private placement to accumulate Litecoin, as well as the addition of Charlie Lee to its board.

  • The timing comes as Bitcoin hovers around an all-time high and companies like Trump Media add crypto to their books.

  • 10 stocks we like better than Litecoin ›

Litecoin (CRYPTO: LTC) 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.

Contents
Key PointsA bold new strategyCrypto is having a momentShould you invest $1,000 in Litecoin right now?

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.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »

A bold new strategy

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 Litecoin is unique; it will be the first publicly traded company on a major exchange to do so.

The announcement came just ahead of Trump Media’s announcement that it has purchased an additional $2 billion in Bitcoin to add to its books as the original crypto hovers around all-time highs.

Image source: Getty Images.

Crypto is having a moment

Bitcoin set a new record last week, topping the $120,000 mark for the first time. There is a wave of enthusiasm in the market as Congress considers major legislation that would create a regulatory framework for the adoption of crypto in traditional banking and finance.

Litecoin, like most altcoins, generally follows the movement of Bitcoin. Frankly, I don’t see much of a reason to invest in it compared to Bitcoin.

Should you invest $1,000 in Litecoin right now?

Before you buy stock in Litecoin, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Litecoin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004… if you invested $1,000 at the time of our recommendation, you’d have $652,133!* Or when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $1,056,790!*

Now, it’s worth noting Stock Advisor’s total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of July 21, 2025

Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.

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