Canadian Luxxfolio to raise $73M for Litecoin Treasury
Canadian crypto company Luxxfolio Holdings Inc. has filed to raise CAD$100 million (US$73 million) to strengthen its Litecoin-focused treasury strategy, marking a shift away from Bitcoin and toward building infrastructure around LTC.
Luxxfolio submitted a shelf prospectus that would allow it to issue shares, debt, or other securities over the next 25 months. The company said the funds will go toward expanding infrastructure for merchant payments, stablecoins, and crypto wallets, with a goal of holding 1 million LTC by 2026.
Earlier this year, Luxxfolio restructured its treasury away from Bitcoin and into Litecoin, describing it as “hard currency.” CEO Tomek Antoniak explained that the new financing would help expand real-world use cases for the asset while supporting the firm’s broader infrastructure projects.
Despite its ambitions, Luxxfolio is facing financial challenges. In Q2 2025, it reported a $197,000 loss, compared with an $8,000 loss in the same quarter last year. The firm ended the period with $112,000 in cash and relied on a private placement of $844,000 to maintain operations. Since 2017, Luxxfolio has accumulated nearly $19 million in total losses.
Industry analysts have warned that simply holding Litecoin is not enough for long-term success. Mehow Pospieszalski, CEO of American Fortress, said institutions are prioritizing adoption, compliance, and usable infrastructure, not just speculative gains.
In parallel, U.S.-listed pharmaceutical company MEI Pharma (NASDAQ: MEIP) has purchased $100 million worth of Litecoin, becoming the first American firm to make LTC its main treasury asset.Between July 30 and August 4, MEI acquired 929,548 LTC at an average price of $107.58. With Litecoin trading near $124, those holdings are now valued at roughly $115 million.
The acquisition was arranged as a private investment in public equity (PIPE) led by crypto capital markets firm GSR, which will also serve as MEI’s digital asset treasury manager and strategic advisor. To fund the purchase, MEI is selling 29.2 million shares at $3.42 each, with settlement expected by July 22, 2025.
Earlier this year, Luxxfolio restructured its treasury away from Bitcoin and into Litecoin, describing it as “hard currency.” CEO Tomek Antoniak explained that the new financing would help expand real-world use cases for the asset while supporting the firm’s broader infrastructure projects.
Despite its ambitions, Luxxfolio is facing financial challenges. In Q2 2025, it reported a $197,000 loss, compared with an $8,000 loss in the same quarter last year. The firm ended the period with $112,000 in cash and relied on a private placement of $844,000 to maintain operations. Since 2017, Luxxfolio has accumulated nearly $19 million in total losses.
Industry analysts have warned that simply holding Litecoin is not enough for long-term success. Mehow Pospieszalski, CEO of American Fortress, said institutions are prioritizing adoption, compliance, and usable infrastructure, not just speculative gains.
In parallel, U.S.-listed pharmaceutical company MEI Pharma (NASDAQ: MEIP) has purchased $100 million worth of Litecoin, becoming the first American firm to make LTC its main treasury asset.Between July 30 and August 4, MEI acquired 929,548 LTC at an average price of $107.58. With Litecoin trading near $124, those holdings are now valued at roughly $115 million.
The acquisition was arranged as a private investment in public equity (PIPE) led by crypto capital markets firm GSR, which will also serve as MEI’s digital asset treasury manager and strategic advisor. To fund the purchase, MEI is selling 29.2 million shares at $3.42 each, with settlement expected by July 22, 2025.
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