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Another Company Announced That It Will Add Bitcoin (BTC) To Its Portfolio!

While interest in spot Bitcoin ETFs continues to increase day by day, another company announced that it will invest in ETFs.

According to the Financial Times, Mogo Inc., a digital asset and payment company, announced that they plan to invest $ 5 million in Bitcoin (BTC) and Bitcoin ETFs.

Nasdaq-listed Mogo Inc. announced today that its Board of Directors has approved a change to its treasury management strategy to include Bitcoin and Bitcoin ETFs, allowing an initial investment of up to $5 million.

Mogo Inc. President Greg Feller stated in his statement that Mogo invested in Bitcoin for the first time in 2020 and said:

“Mogo first invested in Bitcoin in 2020, becoming one of the first companies to enter crypto investing in North America.

We continue to believe that Bitcoin offers a long-term investment opportunity.

Our decision to invest in spot Bitcoin ETFs supports our view that Bitcoin is a legitimate global asset class with attractive qualities that make it a unique store of value.

Today’s announcement, along with Mogo’s ~13% stake in WonderFi, provides our shareholders with meaningful access to this asset class.”

For the third quarter ending September 30, 2023, Mogo reported cash and total investments of $43.7 million. Mogo’s holdings also include 87 million common shares (approximately 13% of outstanding shares) of WonderFi Technologies Inc. (TSX: WNDR), one of the largest regulated crypto investment ecosystems in Canada.

*This is not investment advice.

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