Mogo Inc. has just sold nearly 50% of its stake in WonderFi Technologies for approximately 13.8 million USD to reinvest in Bitcoin ETF.
The transaction reflects Mogo's investment portfolio value equivalent to nearly half of WonderFi's market capitalization. The company expects to complete the deal with Robinhood in the second half of 2025 and retain the remaining shares until the transaction is concluded.
MAIN CONTENT
Mogo sells nearly 50% of its stake in WonderFi for 13.8 million USD.
The transaction value is nearly 50% of WonderFi's market capitalization, around 50 million USD.
The proceeds will be used to increase the Bitcoin ETF position to 2 million USD.
How did Mogo sell its stake in WonderFi Technologies?
Mogo Inc. announced the transfer of nearly 50% of its stake in WonderFi Technologies for approximately 13.8 million USD. This transaction was officially announced through Business Wire on August 4.
This sale indicates that Mogo is adjusting its investment portfolio, focusing more on Bitcoin ETF to take advantage of the investment trend in cryptocurrencies. The execution price is slightly lower than the anticipated price in the merger deal with Robinhood.
What does the transaction value mean for WonderFi and Mogo?
The value of 13.8 million USD is nearly half of WonderFi's market capitalization of 50 million USD, reflecting the importance of this stake in Mogo's investment portfolio.
The price reduction compared to the expected merger deal with Robinhood in the second half of 2025 shows caution in adjusting investment strategies and reflects current volatility in the cryptocurrency market.
The increased investment in Bitcoin ETF demonstrates Mogo's commitment to long-term development in the cryptocurrency sector.
Mogo Inc. CEO stated on August 4, 2024, Business Wire
How will Mogo use the proceeds?
Mogo plans to use the proceeds from the sale of WonderFi shares to raise its position in Bitcoin ETF to about 2 million USD, emphasizing the priority of increasing investment in cryptocurrency-related financial products.
This strategy reflects the growing trend of investors turning to Bitcoin ETF as a safer and more optimal investment channel with indirect access to Bitcoin.
What is the current status of Mogo's remaining stake in WonderFi?
Despite selling nearly 50% of its stake, Mogo retains the remainder until the merger of WonderFi with Robinhood is completed, expected to occur in the second half of 2025.
The status of holding this stake helps Mogo maintain influence and be ready to benefit from stock price fluctuations in the near future, while ensuring the stability of the investment portfolio.
What investment trends can be observed through Mogo's actions?
Mogo is shifting from holding stakes in a variety of cryptocurrency companies to focusing on Bitcoin ETF funds, in order to minimize risk and optimize profits.
This trend reflects specialization in cryptocurrency investment, highlighting the desire to leverage better-managed and more liquid financial products like Bitcoin ETF.
Frequently Asked Questions
How much stake has Mogo sold in WonderFi?
Mogo has sold nearly 50% of its stake in WonderFi for approximately 13.8 million USD.
What is the market capitalization of WonderFi?
The market capitalization of WonderFi is around 50 million USD.
How does Mogo utilize the funds raised from the sale of shares?
The proceeds will be used to expand the Bitcoin ETF investment position to 2 million USD.
When is the merger deal between WonderFi and Robinhood expected to be completed?
The deal is expected to be completed in the second half of 2025.
Does Mogo hold any stake in WonderFi?
The company retains the remaining stake until the merger deal is completed.
Source: https://tintucbitcoin.com/mogo-thu-138-trieu-usd-tu-wonderfi/
Thank you for reading this article!
Please like, comment, and follow TinTucBitcoin to stay updated on the latest news in the cryptocurrency market and not miss any important information!