Canada Fintech Mogo It was announced on July 2nd Its board has cleared up to $50 million for its gradual purchase of Bitcoin as a long-term Treasury Reserve, urging its shares to rise 140% when the Toronto Stock Exchange opens its market.
Mogo closed on July 1st at a price of CAD 1.74, worth around $1.28. It opened on July 2nd, and costs C$4.18, which is equivalent to $3.08. The move is the biggest increase in Mogo’s stock since 2021.
As of press time, Mogo is trading at $3.60 Canadian dollars, up about 107% over the past 24 hours.
The company told investors that when Wonderfi – Robinhood Sale ends in the second half of 2025, it will fund allocations with surplus cash and future portfolio monetization.
Management expects to hold approximately $50 million in cash and investment at that time. We plan to convert the balance to tranche bitcoin and maintain sufficient working capital for our financing, wealth management and payments departments.
President and co-founder Greg Feller said the move continues the crypto strategy that began in 2018 with Canada’s first retail Bitcoin account and its first balance sheet purchase in 2020.
Bitcoin Reserve and Capital Benchmark
Management will test all deployments of corporate capital, such as mergers, product investments, and stock buybacks against the internal Bitcoin hurdle rate, rejecting projects that are expected to result in a return that falls behind the long-term return of assets.
Feller called the rule “a new bar for capital discipline” and framed it as a hard coding check for incremental spending.
CEO David Feller linked the policy to Mogo’s “Warren Buffett” framework of action.
The company will embed Bitcoin throughout its business in a “wealth” model consisting of a 60/40 equity and Bitcoin portfolio on the management platform’s $400 million assets and a lending sector with secured BTC loans aimed at lower borrowing costs.
Furthermore, efforts to explore Stablecoin Rails will focus on $12 billion in annual domestic cross-border volumes.
Mogo holds minority stakes in Gemini and Hootsuite and can be settled to accelerate purchases. It also holds indirect exposure through its 12% stake in Wonderfi, the parent of Canada’s largest independent crypto exchange.
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