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10 May 2021

Canadian Fintech Firm Mogo Adds $405,000 in ETH to its Crypto Cache - Decrypt

Canadian Fintech Firm Mogo Adds $405,000 in ETH to its Crypto Cache - Decrypt


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However, with the price of ETH having surged to a high of over $3,500 earlier today, Mogo has already made a tidy profit; at Ethereum's current price of $3,328, Mogo's investment has already netted it over $80,000—an increase of nearly 20%.

Per today’s press release, this initiative has been partially realized, with Mogo having bought 18 BTC at an average price of $33,083.

Mogo is the latest in an increasingly long line of companies buying cryptocurrency for their corporate treasuries, with the likes ofMicroStrategy,SquareandTeslahaving added Bitcoin to their holdings.

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