Mogo, a listed company, announced that its board of directors has authorized it to allocate $50 million in funds to Bitcoin

PANews reported on July 2 that according to Businesswire, digital payment and financial technology company Mogo Inc. (NASDAQ: MOGO) announced that its board of directors has authorized the allocation of up to $50 million in Bitcoin as part of the company's long-term capital preservation and product innovation strategy. With the WonderFi and Robinhood transaction expected to be completed in the second half of 2025, Mogo expects 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 come from excess cash on the balance sheet and will be supplemented over time through additional monetization of the portfolio. The company's initial goal is to gradually expand its Bitcoin investment to $50 million through phased investments, while ensuring that the operating business has sufficient working capital.