Canadian fintech Mogo announced on July 2 that its board had cleared up to $50 million for staged Bitcoin purchases as a long-term treasury reserve, prompting its shares to jump 140% at market opening on the Toronto Stock Exchange.

MOGO closed July 1 priced at 1.74 Canadian dollars, worth roughly $1.28. It opened on July 2, priced at 4.18 Canadian dollars, equivalent to $3.08. The move is the largest daily increase in Mogo’s shares since 2021.

As of press time, MOGO was trading at 3.60 Canadian dollars, up roughly 107% over the past 24 hours.

The firm told investors it will fund the allocation with surplus cash and future portfolio monetizations once the WonderFi–Robinhood sale closes in the second half of 2025.

Management expects to hold approximately $50 million in cash and investments at that point. It plans to convert the balance into Bitcoin in tranches, while maintaining sufficient working capital for its lending, wealth management, and payments arms.

President and co-founder Greg Feller said the move continues a crypto strategy that began with Canada’s first retail Bitcoin account in 2018 and the firm’s initial balance sheet purchase in 2020.

Bitcoin reserve and capital benchmark

Management will now test every deployment of corporate capital, such as mergers, product investments, and share buybacks, against an internal Bitcoin hurdle rate and will reject projects expected to yield returns that lag behind the asset’s long-term return. 

Feller called the rule “a new bar for capital discipline” and framed it as a hard-coded check on incremental spending.

CEO David Feller linked the policy to Mogo’s “Warren Buffett” behavioral framework, which stresses long-horizon decisions and mental focus. 

The company will embed Bitcoin across its businesses in a “Wealth” model, consisting of a 60/40 equity and Bitcoin portfolio on the $400 million assets under management platform, and a lending arm with collateralised BTC loans aimed at lower borrowing costs.

Furthermore, an effort to explore stablecoin rails will focus on $12 billion in annual cross-border volume.

Mogo holds minority stakes in Gemini and Hootsuite, which it can liquidate to accelerate purchases. It also retains indirect exposure through a 12% stake in WonderFi, the parent of Canada’s largest independent crypto exchange.

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Filed under: Bitcoin - @ July 2, 2025 7:16 pm