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BTC $43303.22 (2.04%)
ETH $3007.34 (3.29%)
USDT $1.00 (-0.0%)
BCH $514.21 (0.40%)
BSV $129.82 (-3.5%)
LTC $151.51 (0.01%)
BNB $346.18 (-1.4%)
ADA $2.27 (-3.1%)
DOGE $0.20 (-0.8%)

Mogo Makes Initial Investment of $1.5 Million in Bitcoin

Mogo Makes Initial Investment of $1.5 Million in Bitcoin
  • Fintech company Mogo said it would soon invest over $1.5 million in Bitcoin as an initial corporate investment.
  • Mogo also launched MogoCrypto Hub, enabling users to trade Bitcoin in Canada.

Fintech company Mogo will soon put about $1.5 million in Bitcoin as an initial corporate investment. In the coming year, Mogo will add much more investments.

Subsequently, Mogo continues to monetize its already existing $17 million portfolios alongside. Mogo claims that its initial investment is expected to mark approximately 1.5% of its total assets before the year ends.

Alongside the above-mentioned, the firm announced to have launched MogoCrypto Hub. The MogoCrypto Hub empowers users with an easy way to trade Bitcoin basically in Canada.

Furthermore, to instantly get a real-time price, the crypto hub makes it accessible to buy and sell BTC via the Mogo online mobile app. In the MogoCrypto, to be identified as a qualified user, participants must first pass the identity and security verification process.

In support, the Mogo company also announced its bitcoin reward program publicly. Throughout the BTC reward regime, anyone who habitually engages in any products of Mogo earns bitcoin.

Mogo President and CFO Gregory Feller said,

We are strong believers in bitcoin as an asset class and believe this investment is consistent with our goal to make bitcoin investing available to all Canadians. In addition, we believe bitcoin represents an attractive investment for our shareholders with significant long-term  potential as its adoption  continues to grow globally.

Despite the massive Bitcoin price surge daily, Mogo remarked that BTC has increased to over 200% this year. This is as a result of how institutional investors and fintech companies welcome the asset. On a month to month basis, Mogo reported an increase of about 135% of bitcoin traded on its platform consecutively.

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.