Mogo incorporates Bitcoin into its money management strategy

Digital wealth and payment company Mogo Inc. (NASDAQ stock code: MOGO) announced today that its board of directors has approved a change in its financial management strategy to include Bitcoin and Bitcoin ETFs, and authorized an initial investment of up to $5 million. As of the third quarter ending September 30, 2023, Mogo reported cash and total investments of $43.7 million, including $19.3 million in combined cash and restricted cash and $24.5 million in investment portfolios. Mogo's assets also include 87 million common shares of WonderFi Technologies Inc. (about 13% of the issued shares), one of Canada's largest regulated cryptocurrency investment ecosystems.