Canadian fintech Mogo’s $50M Bitcoin reserve plan ignites 140% share surge at market opening

Canadian fintech Mogo announced connected July 2 that its committee had cleared up to $50 cardinal for staged Bitcoin purchases arsenic a semipermanent treasury reserve, prompting its shares to leap 140% astatine marketplace opening connected the Toronto Stock Exchange.

MOGO closed July 1 priced astatine 1.74 Canadian dollars, worthy astir $1.28. It opened connected July 2, priced astatine 4.18 Canadian dollars, equivalent to $3.08. The determination is the largest regular summation successful Mogo’s shares since 2021.

As of property time, MOGO was trading astatine 3.60 Canadian dollars, up astir 107% implicit the past 24 hours.

The steadfast told investors it volition money the allocation with surplus currency and aboriginal portfolio monetizations erstwhile the WonderFi–Robinhood merchantability closes successful the 2nd fractional of 2025.

Management expects to clasp astir $50 cardinal successful currency and investments astatine that point. It plans to convert the equilibrium into Bitcoin successful tranches, portion maintaining capable moving superior for its lending, wealthiness management, and payments arms.

President and co-founder Greg Feller said the determination continues a crypto strategy that began with Canada’s archetypal retail Bitcoin relationship successful 2018 and the firm’s archetypal equilibrium expanse acquisition successful 2020.

Bitcoin reserve and superior benchmark

Management volition present trial each deployment of firm capital, specified arsenic mergers, merchandise investments, and stock buybacks, against an interior Bitcoin hurdle complaint and volition cull projects expected to output returns that lag down the asset’s semipermanent return. 

Feller called the regularisation “a caller barroom for superior discipline” and framed it arsenic a hard-coded cheque connected incremental spending.

CEO David Feller linked the argumentation to Mogo’s “Warren Buffett” behavioral framework, which stresses long-horizon decisions and intelligence focus. 

The institution volition embed Bitcoin crossed its businesses successful a “Wealth” model, consisting of a 60/40 equity and Bitcoin portfolio connected the $400 cardinal assets nether absorption platform, and a lending limb with collateralised BTC loans aimed astatine little borrowing costs.

Furthermore, an effort to research stablecoin rails volition absorption connected $12 cardinal successful yearly cross-border volume.

Mogo holds number stakes successful Gemini and Hootsuite, which it tin liquidate to accelerate purchases. It besides retains indirect vulnerability done a 12% involvement successful WonderFi, the genitor of Canada’s largest autarkic crypto exchange.

The station Canadian fintech Mogo’s $50M Bitcoin reserve program ignites 140% stock surge astatine marketplace opening appeared archetypal connected CryptoSlate.