Canadian fintech company Mogo, which is listed on the Toronto Stock Exchange and NASDAQ, bought about 146 ETH at an average price of $ 2,780 as part of an investment plan to distribute up to 5% of its reserves in cryptocurrencies.
The company called this decision part of Mogo’s broader digital asset market strategy.
According to a press release, the firm previously bought 18 BTC at an average price of $ 33,083. In April 2021, Mogo also acquired a 19.99% stake in Canada’s leading cryptocurrency exchange, Coinsquare.
“This initial investment in Ethereum complements previous investments in Bitcoin and reflects our belief in the long-term potential of blockchain technology and its role as a core component of the next generation fintech platform,” said Mogo President and CFO Greg Feller.
In December 2020, Mogo announced that it was investing up to $ 1.5 million in bitcoin. According to Feller, such investments will improve the company’s financial products.
Recall that in March 2021, Mogo announced the launch of an incentive program with a cashback in bitcoin when applying for a new mortgage or refinancing an old one.
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