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Digital Payment Company Mogo Announces Allocation of $50 Million in Bitcoin as Capital Preservation
Summary: Digital payment and financial technology company Mogo Inc. (NASDAQ: MOGO) announced that its board has authorized the allocation of up to $50 million in Bitcoin as part of the company's long-term capital preservation and product innovation strategy. The funds will come from excess cash on the balance sheet and will be supplemented over time through ...
Digital payment and financial technology company Mogo Inc. (NASDAQ: MOGO) announced that its board has authorized the allocation of up to $50 million in Bitcoin as part of the company's long-term capital preservation and product innovation strategy. The funds will come from excess cash on the balance sheet and will be supplemented over time through additional monetization of the investment portfolio. The company's initial goal is to gradually increase the size of the Bitcoin investment to $50 million through phased investments, while ensuring the operational business has sufficient working capital. (Businesswire)
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