MOGO shares surge 115.76% after announcing $50 million Bitcoin allocation authorization

BlockBeats News, July 2—According to market data, a certain exchange has surged by 115.76%, with the current price quoted at $2.62.

As previously reported by BlockBeats, earlier today the board of directors of fintech company Mogo announced the authorization to allocate $50 million to Bitcoin as part of its long-term capital preservation and product innovation strategy. The company will achieve this goal in phases by using excess cash and liquidating investment portfolios, setting Bitcoin as the benchmark for capital allocation returns. Mogo also plans to integrate Bitcoin into its core business, launching portfolio and loan products, among others.