Luxxfolio Backs Litecoin With $73M Bet – Can LTC Hit $1,000 Next?
The post Luxxfolio Backs Litecoin With $73M Bet – Can LTC Hit $1,000 Next? appeared first on Coinpedia Fintech News
Litecoin (LTC), often seen as Bitcoin’s younger sibling, is quietly moving into the spotlight again. While much of the crypto conversation this year has revolved around Bitcoin and Ethereum, new developments suggest Litecoin might be preparing for a breakout.
As Luxxfolio, a Canadian company filed to raise up to CAD$100 million ($73 Million) to support its Litecoin-focused strategy.
Luxxfolio Bets Big on Litecoin
Canadian company Luxxfolio Holdings has made a strong bet on Litecoin. The company has taken a bold step away from traditional Bitcoin mining and is instead building its corporate treasury around Litecoin.
Luxxfolio recently filed a shelf prospectus to raise $73 million over the next two years, with the goal of accumulating up to 1 million LTC by 2026.
CEO Tomek Antoniak described Litecoin as “hard currency,” emphasizing that anchoring its treasury in LTC gives the firm both stability and flexibility. This new plan shifts Luxxfolio from mining to holding Litecoin as a core asset.
Litecoin Eyeing $1000
On the trading side, Roman shared that Litecoin has been in a long accumulation phase for nearly three years. Using the Wyckoff accumulation model, he argues that Litecoin has spent nearly three years consolidating, a phase that often precedes explosive rallies.
What comes next, he says, is the long-awaited “Phase E,” the stage where strong upward momentum typically begins.
As of now, Litecoin price is trading around $110 reflecting a slight rise seen in the last 24 hours with a market cap hitting $8.43 billion.
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