Mogo Board Authorizes $50 Million Allocation to Bitcoin

BlockBeats News, July 2—According to Businesswire, the board of directors of fintech company Mogo has authorized the allocation of $50 million to Bitcoin as part of its long-term capital preservation and product innovation strategy. The company will achieve this goal in phases by using excess cash and liquidating investment portfolios, setting Bitcoin as the benchmark for capital allocation returns. Mogo also plans to integrate Bitcoin into its core business, launching portfolio and loan products, among others.