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Mogo Inc
Symbol MOGO
Shares Issued 75,952,490
Close 2022-08-05 C$ 1.53
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Globe says bitcoin was a better bet than Mogo, rivals

2022-08-08 08:26 ET - In the News

Also In the News (C-GBMC) Green Block Mining Corp
Also In the News (C-VOYG) Voyager Digital Ltd

The Globe and Mail reports in its Saturday edition that over the past year, of the 10 biggest companies on the Toronto Stock Exchange or TSX Venture Exchange that deal in cryptocurrency or blockchain, with the exception of two, none has performed better than bitcoin. The Globe's guest columnist Ethan Lou writes that from last year this time until now, bitcoin has fallen about 40 per cent. However, Mogo, the worst performer among those big Canadian-listed companies, has fallen 80 per cent. Then there are those big crypto companies that probably would be in the TSX top 10 but have done so badly that they have been taken out of it -- like Voyager Digital, which closed Friday at 33.5 cents, down from its record November, 2021, high of $26.12. Such abysmal performance by those regulated, publicly traded companies is revealing. Mr. Lou says it shows that, for investors who want to get exposure to the sector, bitcoin itself has turned out to be the wiser choice. Most crypto stocks are simply not worth buying. Crypto is also a whole different world, where traditional investment axioms go to die. Bitcoin, for all its volatility compared with more mainstream investments, is considered a boring bulwark in its own world.

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