Stock market today: S&P 500 extends monthly win streak despite Nvidia-led stumble
Investing.com -- Mogo Inc (NASDAQ:MOGO) stock rose 4.5% following the Canadian fintech company’s strategic investment in Digital Commodities Capital Corp (CSE:DIGI).
The company announced it has acquired approximately 9% stake in Digital Commodities, a publicly listed investment issuer focused on acquiring and holding Bitcoin and physical gold. Mogo’s $1 million investment was made as part of Digital Commodities’ non-brokered private placement, consisting of 13.3 million units priced at $0.075 per unit. Each unit includes one common share and one warrant to purchase a common share exercisable at $0.10.
"We believe Digital Commodities is building something foundational, an asset-backed public company model built on Bitcoin and gold," said Greg Feller, President & Co-founder of Mogo. "That’s a category-defining strategy we’re excited to be aligned with as both operators and long-term believers in Bitcoin."
This investment aligns with Mogo’s recently announced strategy to allocate up to $50 million to Bitcoin. The company is positioning itself as a dual-compounding platform that combines a high-growth fintech operating business with a strategic Bitcoin treasury.
The Digital Commodities stake will be held alongside Mogo’s other crypto-related investments, including its minority stake in Gemini, furthering its strategic exposure to Bitcoin and the broader digital asset ecosystem.
Digital Commodities focuses on hard, non-fiat assets as the foundation of its treasury strategy, intended to function as long-term reserves managed with discipline and transparency.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.