Canadian Company Mojo Invests $1.5 Million in Bitcoin, Plans to Allocate More...
On December 23, 2020, the Canadian financial tech firm Mogo announced its plans to invest 1.5% of the company’s reserve assets into bitcoin by the year’s end. Mogo’s president and CFO said the initial corporate investment of up to $1.5 million in bitcoin builds on the company’s product development related investments in bitcoin during the last few years. Ever since Microstrategy purchased bitcoin to replace a percentage of the firm’s cash reserves, a large swathe of companies followed the bitcoin balance-sheet model. At the time of publication, there are now....
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A few months ago a trend started where well known businesses like Microstrategy, Square, and Tesla started adding bitcoin to their company balance sheets. Now a Canadian condominium company has decided to invest in bitcoin in order to replace some of the firm’s reserve fund with crypto. Thornton Place Condominium Corporation leveraged the cryptocurrency exchange Kraken to process the transaction. **Update: March 20, 2021, 10:30 a.m. (EST), a quote at the end of this article was attributed to the wrong person and has now been corrected. Canadian Condo Company Purchases Bitcoin for....
BIGG Digital Assets, a Canadian crypto company, revealed this week that it bought 40 additional bitcoins for long-term treasury holding. The purchase increased BIGG’s reserves to 189.5 bitcoins valued at US$3.63 million in total. The Canadian Securities Exchange-listed firm spent about CAD$1 million ($775,000) on its latest buy. The company said it “believes strongly in the future of bitcoin, its store of value capability, and its future valuation potential.” Mark Binns, chief executive officer of BIGG, noted that his company, owners of crypto brokerage Netcoins and data....
The Brooker Group has reportedly become the first publicly listed company in Thailand to hold bitcoin on its balance sheet. The company has disclosed that it has bought 122.3158 bitcoins worth $6.6 million or 200 million baht. Thai Public Company Invests in Bitcoin The number of public companies investing in bitcoin is growing worldwide. In Thailand, The Brooker Group (BROOK) has become the first listed company in the country to announce its cryptocurrency holdings, the Bangkok Post reported Thursday. The Brooker Group provides independent advisory services to private and public sector....
Leading life insurance company Massmutual has become the latest big company to invest a huge sum of money in bitcoin. Massmutual believes that having a bitcoin position in its investment account will help the company deliver long-term value to its insurance policyholders. Massmutual Buys Bitcoin Worth $100 Million Massachusetts Mutual Life Insurance Company (Massmutual) announced on Thursday that it has purchased $100 million worth of bitcoin and also a $5 million equity investment in Nydig, a provider of institutional investment and technology solutions for bitcoin. Founded in 1851,....
The Nasdaq-listed auto insurance company Metromile has purchased $1 million in bitcoin. The company plans to “become the first insurance company to allow policyholders the option to pay for insurance and receive payment for eligible claims in either bitcoin or dollars.” Auto Insurance Platform Adds Bitcoin to Balance Sheet The Nasdaq-listed insurance company Metromile Inc. disclosed its bitcoin purchase in a filing with the U.S. Securities and Exchange Commission (SEC) dated Aug. 10. Metromile is a digital insurance platform and pay-per-mile auto insurer. The filing states: In....