Canadian Fintech Mogo announced on July 2 That his administration had cleared up to $ 50 million for staged Bitcoin purchases as a long-term treasury reserve, so that his shares with 140% jump at the market opening on the Toronto Stock Exchange.
Mogo closed 1 July priced at 1.74 Canadian dollars, worth around $ 1.28. It was opened on July 2, priced at 4.18 Canadian dollars, equal to $ 3.08. The move is the largest daily increase in Mogo’s shares since 2021.
From the moment of the press, Mogo traded with 3.60 Canadian dollars, around 107% in the last 24 hours.
The company told investors that it will finance the allocation with surplus cash and future portfolio monetizations as soon as the Wonderfi -Robinhood sales closes in the second half of 2025.
At that time, management expects to have around $ 50 million in cash and investments. It is planning to convert the balance into Bitcoin in tranches, while the sufficient working capital is maintained for its loans, asset management and payment arms.
President and co-founder Greg Feller said that the relocation continues a crypto strategy that started with the first Retail Bitcoin account of Canada in 2018 and the initial balance purchase of the company in 2020.
Bitcoin Reserve and Capital Benchmark
Management will now test any implementation of business capital, such as mergers, product investments and share purchasing, against an internal Bitcoin detention interest and will be expected to deliver projects that are expected to be rejected that are left behind with the long-term efficiency of the active.
Feller called the rule “a new bar for capital discipline” and formed it as a hard encrypted control of incremental expenses.
CEO David Feller linked the policy to Mogo’s “Warren Buffett” behavioral framework, which emphasizes decisions of long-horizon and mental focus.
The company will include Bitcoin in a “wealth” model, consisting of a 60/40 equity and bitcoin portfolio on the $ 400 million assets in management platform, and a credit weapon with collateral BTC loans aimed at lower loan costs.
In addition, an attempt to explore Stablecoin rails will focus on $ 12 billion in annual cross -border volume.
Mogo has minority interests in Gemini and Hootsuite, who can liquidate it to speed up purchases. It also retains indirect exposure by an interest of 12% in Wonderfi, the parent of Canada’s largest independent crypto exchange.
