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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Mogo Adds 146 ETH to Firm’s Balance Sheet, Plans to Turn 5% of Its Portfolio Into Crypto Assets

Mogo Adds 146 ETH to Firm's Balance Sheet, Plans to Turn 5% of Its Portfolio Into Crypto Assets

On Tuesday, the Nasdaq-listed Canadian company Mogo revealed the firm has purchased 146 ether at an average price of $2,780. The move follows the firm’s corporate investment in bitcoin, as well as offering bitcoin rewards for the company’s mortgage and card clients. The company plans to keep 5% of its balance sheet assets in digital currencies.

After Adding Bitcoin to the Balance Sheet, Mogo Stacks Ether

The Vancouver-based Mogo (Nasdaq:MOGO), a fintech firm that provides various financial services has announced the corporate purchase of ethereum (ETH). The ethereum investment follows the company’s initial bitcoin purchase back in December 2020.

Mogo has been interested in blockchain and crypto solutions for a few years now. At the end of March, Mogo mortgage clients were offered bitcoin rewards if they got a mortgage through the company or refinanced an existing property.

On May 3, Mogo explained that it obtained 146 ETH for around $2,780 per unit. Both the bitcoin and the recent ETH investments are part of the firm’s plans to increase the company balance sheet with fintech and blockchain investments.

5% of Mogos Portfolio Will be Valued in Crypto Assets

Last week, Mogo sold the firm’s investment in Vena Solutions for $4.7 million and saw a yield of 116%. The company made decent money on the 18 BTC it purchased back in December as well, as Mogo paid an average price of $33,083 per unit.

“Mogo plans to invest up to 5% of its cash and investment portfolio value in cryptocurrencies,” the company said on Tuesday.

“This initial investment in Ether complements our earlier investments in Bitcoin and reflects our belief in the long-term potential of blockchain technology and its position as a core component of a next-generation financial technology platform,” Greg Feller, President and CFO of Mogo detailed during the announcement.

Mogo is one of many firms represented on the website bitcointreasuries.org and the added ETH is not represented on that web portal, as the site only focuses on bitcoin-based treasuries. One company that does have ethereum on its balance sheet is the China-based smartphone and internet app maker Meitu. Mark Cuban’s Dallas Mavs’ online shop ostensibly holds dogecoin (DOGE).

As far as the numbers on bitcointreasuries.org are concerned, the entire lot of companies and hedge funds hold over $77 billion worth of BTC, more than 1.4 million bitcoins, and approximately 6.78% of the entire BTC supply.

What do you think about Mogo’s investment in ethereum? Let us know what you think about this subject in the comments section below.

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