U.S. Markets closed
  • S&P 500

    3,841.94
    +73.47 (+1.95%)
     
  • Dow 30

    31,496.30
    +572.16 (+1.85%)
     
  • Nasdaq

    12,920.15
    +196.68 (+1.55%)
     
  • Russell 2000

    2,192.21
    +45.29 (+2.11%)
     
  • Crude Oil

    66.28
    +2.45 (+3.84%)
     
  • Gold

    1,698.20
    -2.50 (-0.15%)
     
  • Silver

    25.30
    -0.17 (-0.65%)
     
  • EUR/USD

    1.1916
    -0.0063 (-0.5243%)
     
  • 10-Yr Bond

    1.5540
    +0.0040 (+0.26%)
     
  • Vix

    24.66
    -3.91 (-13.69%)
     
  • GBP/USD

    1.3834
    -0.0060 (-0.4344%)
     
  • USD/JPY

    108.3600
    +0.3840 (+0.3556%)
     
  • BTC-USD

    50,598.32
    +2,880.61 (+6.04%)
     
  • CMC Crypto 200

    982.93
    +39.75 (+4.21%)
     
  • FTSE 100

    6,630.52
    -20.36 (-0.31%)
     
  • Nikkei 225

    28,864.32
    -65.79 (-0.23%)
     

Mogo Posts Robust Bitcoin Transaction Volume In January

Anusuya Lahiri
·1 min read
  • Mogo Inc. (NASDAQ: MOGOnoted an over 300% month-over-month growth in bitcoin transaction volume in January. The new bitcoin account rose by 141%, with a 323% increase in dollar value in January from December.

  • Higher access by Canadians towards the evolving digital asset drove the growth.

  • “The continued growth in bitcoin transaction activity is very encouraging, and although it is not yet a material contributor to our overall revenue, it represents our fastest-growing product. Assuming we continue to experience strong uptake with MogoCrypto, it could represent a meaningful component of the growth in our Subscription & Services revenue in 2021. Moreover, it creates the opportunity for engagement with all our products and long-term growth in member monetization,” said Mogo CFO Greg Feller.

  • Mogo declared preliminary corporate investment plans of up to $1.5 million in bitcoin just a month back, with further investment plans in 2021 upon the monetization of its $17 million investment portfolio.

  • It disclosed the acquisition of digital payment company Carta Solutions Holding Corporation just a week back.

  • Recently Tesla Inc (NASDAQ: TSLA) CEO Elon Musk endorsed the bitcoin Clubhouse audio chat app and attached the “#bitcoin” tag on his Twitter profile page, reported CNBC.

  • Price action: Mogo shares closed 1.43% higher at $4.25 on Monday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.