According to a report by Business Wire, the Nasdaq-listed firm announced on Monday that it purchased approximately 146 Ether (ETH) at an average price $2,780. With Ethereum trading at nearly $3,500, their initial purchase is now worth over half a million.
The company had previously added Bitcoin to its balance sheet. Mogo holds 18 BTC, which is nearly $1 million. The firm also purchased a 20 percent ownership interest in Coinsquare, a Canadian top-tier crypto asset company. Overall, Mogo is looking to allocate about five percent of its cash reserve and investment portfolio to cryptocurrencies.
CEO and founder of Mogo, Greg Feller, asserted that the latest move to purchase Ethereum reflected its long-term belief in the potential of blockchain. He said:
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Source: Cryptocurrency - investing.com