Mogo expands its cryptocurrency portfolio
In a recent communicated, we learn that the company Mogo, listed on the Nasdaq, allocated part of its cash to buy Ether (ETH).
Fintech specializes in digital payments and financial technologies. Also, the latter is not at its first attempt. Indeed, in her plan, she aims to allocate up to 5% of its portfolio cash in cryptocurrency.
In this sense, the company had already bought around 18 bitcoins (BTC) for an average price of $ 33,000 last December. The purchase of ethers remains in line with its policy of placing its reserves of cash in the cryptocurrency. In addition, it is important to note that fintech has a 20% stake in Coinsquare, Canada’s main digital asset platform.
The article specifies that:
“The investment of Mogo in Ether is in line with management’s plans to increase the company’s balance sheet investment in the blockchain and fintech ecosystem. “
To be a little more specific, the company said it bought 146 ethers at an average price of $ 2,780.
The CEO of Mogo, Greg Feller, said:
“This initial investment in Ether complements our previous investments in Bitcoin and reflects our belief in the long-term potential of blockchain technology and its position as a central component of a next-generation financial technology platform. “
More and more companies allocating part of their liquidity reserves in cryptocurrencies ; especially since Tesla’s announcement. This was followed by other companies like Marathon Patent.
👉 To discover, the Chinese company Meitu buys $ 40M of Bitcoin (BTC) and Ether (ETH) for its cash
Ether records historic high
In recent times, Ether has had tremendous success. Indeed, the latter recently reached a new all-time high, namely $ 3,450.
This news led the main co-founder, Vitalik Buterin, to become the youngest cryptocurrency billionaire.
👉 To read, Vitalik Buterin becomes billionaire while Ether (ETH) exceeds $ 3,000
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