Mogo Takes a Further Leap Into BTC, Eyes Long-Term Gains With $5M Bitcoin Reserv

[sirty143]

Mogo Takes a Further Leap Into BTC, Eyes Long-Term Gains With $5M Bitcoin Reserve Investment

In a statement released on March 7, the Canadian fintech entity Mogo disclosed its strategy to diversify its portfolio by investing in bitcoin and bitcoin exchange-traded funds (ETFs), earmarking an initial outlay of as much as $5 million. See more for yourself here.

Your opinion is greatly appreciated.

[yhiaali3]

The Mogo executive added:
The recent regulatory approval of spot bitcoin ETFs, along with the commitment of several of the world’s largest asset managers such as Fidelity and Blackrock, support our view that bitcoin is a legitimate global asset class with attractive qualities that make it a unique store of value.

Through this statement, we can see the positive impact of the approval of spot Bitcoin ETFs by encouraging international companies to invest in Bitcoin.

This reflects the positive climate that Bitcoin enjoys these days, and we see this in Bitcoin exceeding the ATH about two months before the halving for the first time in its history.

[TomPluz]

A news like this can certainly reach those others to also not miss the opportunity presented by Bitcoin and ETFs where they can possibly gain a lot compared to other investment vehicles available in the market. So I am expecting that there will be more who will follow the same path and there can be some smaller corporate firms getting into Bitcoin but will not be on the news...certainly putting more pressure to the demand for Bitcoin. In other words, as the saying goes...when it rains it really pours...this is what we are seeing right now in the Bitcoin market.