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Mogo Bought $405,880 of Ether, Plans to Allocate Up to 5% of Cash Into Crypto
The publicly traded fintech firm paid an average price of $2,780 for the digital currency.
Nasdaq-traded Mogo, a digital payments/fintech company, said it bought about 146 ether (ETH) at an average price of $2,780 as part of its plan to allocate up to 5% its cash and investment portfolio to cryptocurrencies.
STORY CONTINUES BELOW
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- Mogo said it's already purchased about 18 bitcoins to date in open-market transactions at an average price of $33,083.
- Yesterday, the price of ether crossed $3,000 for the first time ever, and it set an all-time high of $3,204.06 early Monday. In recent trading, the second-largest cryptocurrency by market cap was changing hands at $3,121.91, up 6.88% in the last 24 hours. Year to date. ETH is up 324%.
Kevin Reynolds
Kevin Reynolds is editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
