TechFlow news, on July 2, according to Businesswire, fintech company Mogo announced that its board has authorized allocating up to $50 million in capital to Bitcoin as part of the company's long-term strategy for capital preservation and product innovation.
Mogo plans to achieve this goal in stages using excess cash on its balance sheet and additional proceeds from portfolio liquidations. The company will also adopt Bitcoin as a benchmark yield for capital allocation—only projects expected to deliver returns exceeding the long-term holding returns of Bitcoin will receive investment.
In addition, Mogo will integrate Bitcoin into its core business operations, including launching investment portfolios based on a 60/40 equity/Bitcoin model, developing Bitcoin-related lending products, and exploring stablecoin infrastructure to enable faster and lower-cost cross-border transactions.
