Mogo (MOGO, Financials) shares rose 4.5% Thursday after the Canadian fintech firm announced a fresh $1 million investment in Digital Commodities Capital Corp; the move pushes Mogo further into the world of Bitcoin and hard assets.
The investment gives Mogo a 9% stake in Digital Commodities; a company focused on holding both Bitcoin and physical gold. As part of the deal, Mogo participated in a private placementsnapping up 13.3 million units at CA$0.075 per unit; each unit comes with a share and a warrant exercisable at CA$0.10.
Greg Feller, Mogo’s president and co-founder, called the move foundational; he said the company believes in building alongside asset-backed public companiesespecially those rooted in Bitcoin and gold.
It’s not a one-off bet; Mogo recently announced plans to allocate up to $50 million to Bitcoin as part of a broader long-term strategy. The firm wants to pair its high-growth fintech platform with digital assets; essentially blending software and store-of-value into one dual-compounding engine.
This latest deal also adds to Mogo’s existing crypto exposure; including a minority stake in Gemini. With inflation, fiat concerns, and blockchain adoption in the spotlightMogo seems intent on keeping one foot in traditional fintech; and the other firmly in the digital asset world.
This article first appeared on GuruFocus.