Mogu's stock surged sharply thanks to plans to buy Bitcoin, Ethereum, and Solana
Shares of Mogu, an online fashion company based in China, skyrocketed after management announced plans to invest $20 million in $BTC , $ETH , and $SOL along with crypto-related assets.
During trading on Thursday, the stock price #MOGU listed on Nasdaq at one point rose over 180%, before cooling down to an increase of about 76%, trading around $4.40 per share. This is a significant breakthrough as the stock had been "stuck" below the $5 mark since peaking at $37 in 2021.
Mogu stated that integrating digital assets into its financial management strategy not only helps diversify funding sources but also supports the development of next-generation AI products and services. This move makes Mogu one of the latest listed companies to participate in the crypto treasury model, a trend initiated by MicroStrategy when it shifted to holding Bitcoin since 2020.
The Mogu event shows that more and more traditional businesses view crypto as a strategic tool to increase value and attract investors. This could continue to create positive waves for the cryptocurrency market in the upcoming period.
👉 The crypto market is promising but also highly volatile. Investors should carefully consider risks before participating. #anhbacong
Shares of Mogu, an online fashion company based in China, skyrocketed after management announced plans to invest $20 million in $BTC , $ETH , and $SOL along with crypto-related assets.
During trading on Thursday, the stock price #MOGU listed on Nasdaq at one point rose over 180%, before cooling down to an increase of about 76%, trading around $4.40 per share. This is a significant breakthrough as the stock had been "stuck" below the $5 mark since peaking at $37 in 2021.
Mogu stated that integrating digital assets into its financial management strategy not only helps diversify funding sources but also supports the development of next-generation AI products and services. This move makes Mogu one of the latest listed companies to participate in the crypto treasury model, a trend initiated by MicroStrategy when it shifted to holding Bitcoin since 2020.
The Mogu event shows that more and more traditional businesses view crypto as a strategic tool to increase value and attract investors. This could continue to create positive waves for the cryptocurrency market in the upcoming period.
👉 The crypto market is promising but also highly volatile. Investors should carefully consider risks before participating. #anhbacong
