Shares of Mogo Inc. (MOGO) are rising more than 5% Tuesday morning after the digital payments and financial technology company launched world's first climate-positive 'green' bitcoin.
Mogo said, for every bitcoin purchased through its platform, Mogo will plant enough trees to completely offset the CO2 emissions produced by mining that bitcoin.
"Bitcoin is the best performing asset class of the past decade with massive inflows of capital daily. But the tremendous potential of bitcoin is hindered by its environmental impact; the emissions created by mining are among the greatest problems facing this asset class today. By launching 'green' bitcoin, we've made buying bitcoin good for the planet and arguably one of the most ESG-oriented investments anyone can make," said David Feller, CEO of Mogo.
MOGO, currently at $5.54, has traded in the range of $1.16- $12.29 in the past 2 weeks.
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