Mogo Inc., a Vancouver-based fintech mortgage loan company, has announced it purchased 146 ether (ETH) at an average price $2,780. According to a press release, the purchase is a part of the company's plans to monetize its portfolio.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
The company will keep the cryptocurrency on its balance sheet in addition to 18 bitcoins (EXANTE: Bitcoin) it purchased at an average price of $33,083. Greg Feller, President and CFO of Mogo, said the investment complements the company's earlier investments in bitcoin and reflects its belief in the "long-term potential of blockchain technology."
Mogo's purchase comes after the Vancouver-based fintech company made an investment in a Canadian cryptocurrency exchange Coinsquare. The firm acquired 19.99% ownership of Coinsquare’s shares on a post-transaction basis for $56.4 million.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.