Nasdaq-listed Canadian fintech company Mogo continues to invest in cryptocurrencies.
Mogo, which bought a million dollars worth of Bitcoin at an average price of $33,083, announced that it purchased 146 ETH at an average price of $2,780 for a total of $405,880.
The company intends to continue to allocate about five percent of its cash reserves to the purchase of cryptocurrencies.
Since the purchase, the Ethereum rate has increased by several hundred dollars. ETH recently set new high above $3,400.
Mogo has a cryptocurrency division. MogoCrypto is a platform that allows its members to buy and sell Bitcoin instantly through the Mogo app using a mobile device.
In March 2021, the company announced its bonus program, which provides members with the opportunity to earn BTC by interacting with Mogo products, allowing them to accumulate coins over time.
Subscribe to ForkNews at Telegram to stay up to date with the latest from the world of cryptocurrencies
You May Also Like
A subsidiary of Stellar, in the process of merging with a new startup, will change its name to Interstellar
Lightyear is about to merge with blockchain startup Chain. According to a Stellar blog post, Lightyear is a not-for-profit company that was created to enable innovative financial institutions to easily join the Stellar ecosystem.
The process has begun. Hedge funds are closing
Bitcoin was trading more than 1,000% higher in 2017, with many investors and institutional firms pouring heavily into the new digital gold. Now Bitcoin has lost more than 80% of its value, and many of the hedge funds that invested in Bitcoin are now closed, and some are going out of business.
