Listed company Mogo announces that its board of directors has authorized it to allocate $50 million in funds to Bitcoin

According to Businesswire, digital payment and fintech company Mogo Inc. (NASDAQ: MOGO) announced that its board of directors has authorized the allocation of up to $50 million in funds to Bitcoin as part of the company's long-term capital preservation and product innovation strategy. With the expected completion of the WonderFi Robinhood transaction in the second half of 2025, Mogo is expected to hold approximately $50 million in cash and investments. The company's board of directors has approved a maximum allocation of $50 million in Bitcoin, which will be funded by excess cash on the balance sheet and supplemented over time through additional monetization of the investment portfolio. The company's initial goal is to gradually expand its Bitcoin investment scale to $50 million through phased investments, while ensuring sufficient operating capital for its business operations.