Business Wire reported that Mogo (a financial technologies startup working with digital payments), whose shares are traded on Nasdaq, has allocated some of its cash reserves to purchase Ethereum.
Previously, the company added Bitcoin to its balance sheet. But now it’s time for Ethereum (ETH). Overall, Mogo plans to put five percent of its cash reserve and investment portfolio value into cryptocurrencies.
Mogo buys 146 Ethereum
The company announced that the acquisition of Ethereum, the second largest digital currency, occurred with 146 ETH at an average of $ 2.780. If the current price is $ 3.142, the amount of Ethereum purchased is close to half a million dollars.
This acquisition comes after Mogo’s investment in Bitcoin, the leading cryptocurrency. Mogo bought 18 BTC at an average price of $ 33.083. At the current exchange rate, this amount is equivalent to 1. 054.618 dollars. In addition, Mogo came to the fore with its investment in Coinsquare, one of Canada’s top-of-the-line crypto asset companies.
Greg Feller, CEO and founder of Mogo, stated that the current investment in Ethereum complemented the previous Bitcoin acquisition and the company has proven its long-term claim on blockchain and currencies based on this disruptive technology.
ETH broke all-time record
Today Cryptocoin. com
As we reported as , ETH repeatedly broke the new all-time record on Monday. Altcoin’s latest record stands at around $ 3.199 (according to CoinGecko data). The second largest cryptocurrency reached its previous peak on Saturday, May 1. This rise of ETH has made Vitalik Buterin, the inventor of ETH, one of the youngest crypto billionaires.
Meanwhile, while investors continue to withdraw ETH from crypto exchanges, the ETH balance in the exchanges has dropped by 44 percent in the last 24 hours.
ETH’s biggest competitor, BNB, follows ETH, reaching an all-time high – today surpassing $ 660.
The market cap of the coin is currently more than $ 100 billion.