Mogo Shares Surge 140% After $50 Million Bitcoin Reserve Plan

Canadian fintech Mogo announced on July 2 that its board had approved up to $50 million for staged Bitcoin purchases as a long-term treasury reserve. This announcement led to a significant surge in its shares, jumping 140% at the market opening on the Toronto Stock Exchange. Mogo closed on July 1 at 1.74 Canadian dollars, equivalent to approximately $1.28. On July 2, it opened at 4.18 Canadian dollars, or $3.08, marking the largest daily increase in Mogo’s shares since 2021. As of the latest update, Mogo was trading at 3.60 Canadian dollars, reflecting a roughly 107% increase over the past 24 hours.

The company plans to fund this allocation with surplus cash and future portfolio monetizations, following the closure of the WonderFi–Robinhood sale in the second half of 2025. Management anticipates holding approximately $50 million in cash and investments at that point. The plan is to convert this balance into Bitcoin in tranches while maintaining sufficient working capital for its lending, wealth management, and payments operations. This move continues Mogo’s crypto strategy, which began with Canada’s first retail Bitcoin account in 2018 and the firm’s initial balance sheet purchase in 2020.

Mogo’s management will now evaluate every deployment of corporate capital, including mergers, product investments, and share buybacks, against an internal Bitcoin hurdle rate. This means that projects expected to yield returns lower than Bitcoin’s long-term return will be rejected. President and co-founder Greg Feller described this rule as “a new bar for capital discipline” and a hard-coded check on incremental spending. CEO David Feller linked this policy to Mogo’s “Warren Buffett” behavioral framework, which emphasizes long-horizon decisions and mental focus.

The company aims to embed Bitcoin across its businesses through a “Wealth” model. This model includes a 60/40 equity and Bitcoin portfolio on the $400 million assets under management platform, as well as a lending arm offering collateralized BTC loans aimed at lowering borrowing costs. Additionally, Mogo plans to explore stablecoin rails, focusing on $12 billion in annual cross-border volume. Mogo holds minority stakes in Gemini and Hootsuite, which it can liquidate to accelerate Bitcoin purchases. It also retains indirect exposure through a 12% stake in WonderFi, the parent of Canada’s largest independent crypto exchange.