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.
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