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Chinese fashion retailer Mogu has announced a $20 million investment in cryptocurrencies, triggering a 76% surge in its Nasdaq-listed shares. The company plans to purchase Bitcoin, Ethereum, and Solana to diversify its treasury holdings. This move aligns with growing corporate interest in digital assets as alternative investments.
- Mogu's stock price surged 76% to $4.40 following the crypto investment announcement, briefly touching over $7 per share
- The company cited diversification of treasury holdings and enhanced operational capabilities for AI products as key reasons for the move
- This follows the corporate crypto treasury model pioneered by MicroStrategy, though recent analyst reports indicate potential challenges due to market overcrowding and index exclusions
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