Mogo incorporates Bitcoin into its fund management strategy
Digital wealth and payment company Mogo Inc. (NASDAQ stock code: MOGO) announced today that its board of directors has approved a change to its financial management strategy, incorporating Bitcoin and Bitcoin ETFs, and authorizing an initial investment of up to $5 million. As of the third quarter ended September 30, 2023, Mogo reported cash and total investments totaling $43.7 million. This includes $19.3 million in combined cash and restricted cash, as well as a portfolio worth $24.5 million. Mogo's assets also include 87 million common shares of WonderFi Technologies Inc., representing approximately 13% of the issued shares, which is one of Canada's largest regulated crypto investment ecosystems.
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