Mogo Inc. (NASDAQ:MOGO) saw its shares surge 205% following the announcement that its Board of Directors approved allocating up to $50 million to Bitcoin, as part of a broader strategy focused on long-term capital preservation and product innovation.

The company intends to fund this investment through excess cash reserves and proceeds from monetizing parts of its investment portfolio, which includes holdings in U.S.-based crypto exchange Gemini and Canadian tech firm Hootsuite. After closing the expected WonderFi-Robinhood deal in the second half of 2025, Mogo anticipates maintaining around $50 million in cash and investments.

“Building on our history and experience in crypto, we’re making a long-term strategic commitment to Bitcoin, backed by deep conviction and the flexibility to build a meaningful Bitcoin reserve that aligns with our capital priorities and market outlook,” said Greg Feller, President & Co-Founder of Mogo.

Mogo has been a pioneer in digital asset innovation, launching Canada’s first Bitcoin account in 2018 and becoming the third U.S.-listed company to hold Bitcoin on its balance sheet in 2020, after MicroStrategy and Block, and before Tesla (NASDAQ:TSLA).

Beyond this Bitcoin allocation, Mogo will evaluate all capital allocation decisions against a Bitcoin hurdle rate, meaning it will only invest in opportunities expected to outperform the long-term returns of holding Bitcoin—whether those are mergers and acquisitions, internal projects, or share buybacks.

Additionally, Mogo plans to embed Bitcoin throughout its key business lines, including its wealth management platform (which oversees over $400 million in assets), lending services, and its payments infrastructure that handles more than $12 billion in annual international transactions.

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