Mogo dey sell 50% WonderFi for $13.8M, boost Bitcoin reach $2M
Canadian fintech company Mogo don sell 50% of their shares for WonderFi for $13.8 million, dem dey move the money under their long-term capital plan. Mogo increase how much Bitcoin dem get direct to $2 million, to show say Bitcoin na strategic reserve asset. This move show how Mogo dey manage their portfolio well well despite market wahala and e follow the big institution trend wey dey use Bitcoin for diversification and risk cover. Industry experts talk say if people shift money from equity wey dey crypto firms go direct Bitcoin investments e fit reduce exposure to market wahala and still allow market participation. Wetin Mogo do fit boost confidence for Bitcoin stability and encourage other crypto businesses to do same kind adjustments, e go help market liquidity and price stability.
Bullish
Mogo decision to sell big equity stake for WonderFi and put money inside Bitcoin show strong confidence from institution dem for cryptocurrency strong. Companies like MicroStrategy and Tesla do similar thing before, ehn e dey always push price go up and market people dey happy. Short time, if public fintech company buy more Bitcoin, e fit make demand high and market get better flow, e fit help stop price from fall. For long time, this move mean say Bitcoin dey like big important asset wey people fit trust, e encourage other companies to also put money for digital gold. When many big institution dey move their money from shaky stocks to hold BTC direct, traders fit expect say price go steady and market no go dey shake too much.