Mogo Shares Rally After Embrace of Bitcoin Into Holdings, Operations

By Robb M. Stewart

Mogo's shares soared after the financial technology company moved to invest up to 50 million Canadian dollars ($36.6 million) in bitcoin as it integrates the cryptocurrency into its treasury policy and core operating platform.

In morning trading, the shares were 96% higher at C$3.41, for an advance of 84% so far in 2025. On Nasdaq, the stock more than doubled to $2.67.

Mogo, which in 2018 launched Canada's first bitcoin account and in 2020 said it had became the third U.S.-listed company to add bitcoin to its balance sheet, said Wednesday its board has approved a bitcoin allocation of up to C$50 million to be funded by excess cash and in time from its investment portfolio.

It has an initial goal to scale to a C$50 million investment in bitcoin through staged investments over time, and said it aimed to maintain adequate working capital for its operating business.

The move signals an integration of bitcoin into Mogo's corporate framework, and the company will now assess all capital deployment decisions against a bitcoin hurdle rate. It said that whether it was considering mergers and acquisitions, internal investments or share buybacks, the company will only allocate capital to opportunities that are expected to outperform the long-term return profile of holding bitcoin.

The company said its wealth management platform will launch a bitcoin portfolio that will be based on a 60-40 equity-to-bitcoin model. It also is developing bitcoin-related loan products and is exploring stablecoin infrastructure for its payments platform.

Write to Robb M. Stewart at robb.stewart@wsj.com