The Vancouver-based fintech’s earnings report shows it bought roughly US$1 million in Bitcoin and Ether during the first quarter of 2021. Mogo also announced it is increasing its stake in Canadian cryptocurrency exchange Coinsquare from about 20 per cent to 37 per cent, adding that the exchange’s revenue increased 500 per cent year over year in the first quarter. (The Logic)

Talking point: Mogo also holds warrants that, if exercised, would increase its Coinsquare stake to about 48 per cent. The fintech’s increasing cryptocurrency investments come as the sector explodes in popularity. Other public companies such as Tesla and MicroStrategy have put digital currencies on their balance sheets in recent months, a practice that is still controversial, given the volatility in crypto markets. As of now, however, Mogo has made a solid return on its crypto investments—its holdings in Bitcoin, for example, have appreciated almost 50 per cent since it made the purchases during the first quarter.