MOGO stock price pump 115.76%, previously announced authorization of $50 million to allocate Bitcoin

On July 2, according to market data, Mogo Inc (MOGO) rose by 115.76%, currently quoted at 2.62 dollars. BlockBeats previously reported that the board of directors of the fintech company Mogo announced earlier today the authorization to allocate 50 million dollars into Bitcoin as a long-term capital preservation and product innovation strategy. The company will achieve its goals in stages by monetizing excess cash and investment portfolios, using Bitcoin as the benchmark return for capital allocation, and will also integrate Bitcoin into its core business, launching portfolio and loan products, among others.

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