Canadian Firm Luxxfolio Plans $73M Raise to Expand Litecoin Treasury Strategy
Luxxfolio filed a shelf prospectus to raise up to CAD$100 million (US$73 million) after pivoting from Bitcoin mining to holding Litecoin as a treasury asset. CEO Tomek Antoniak emphasized the importance of scale for market influence and adoption. The prospectus, once approved, will allow fundraising through shares, debt, or securities over 25 months. Luxxfolio aims to acquire 1 million LTC by 2026 and has added Litecoin creator Charlie Lee to its advisory board. Financially, Luxxfolio reported a net loss of approximately $197,000 in Q2 and has faced significant operational challenges, including limited liquidity and reliance on private placements. Experts suggest that a Litecoin-focused treasury could attract institutional interest if paired with usable infrastructure, though risks remain if companies do not actively grow their ecosystems. While Litecoin has credibility, it lacks the institutional use cases of Bitcoin. The trend of altcoin treasuries is reshaping perceptions of these assets in the market.
