PANews reported on July 2nd that according to Businesswire, digital payment and financial technology company Mogo Inc. (NASDAQ: MOGO) announced that its board of directors has authorized up to $50 million in Bitcoin allocation 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 anticipates holding approximately $50 million in cash and investments. The company's board has approved a Bitcoin allocation of up to $50 million, with funds sourced from excess cash on the balance sheet and supplemented over time through additional monetization of the portfolio. The company's initial goal is to gradually expand Bitcoin investment to $50 million through phased investments while ensuring sufficient operating capital for its business operations.
