Chinese online fashion and lifestyle platform MOGU Inc has announced that its board of directors will allocate up to $20 million of corporate assets into cryptocurrencies, including Bitcoin, Ethereum, Solana, and others.
Founded in 2011, MOGU is a social media e-commerce platform that connects merchants, key opinion leaders (KOLs), and users through content focused on fashion, household products, and related services. By adding cryptocurrency to its balance sheet, the company aims to diversify its treasury holdings and expand its operational capabilities as it prepares to launch AI-driven products alongside its existing fashion services.
The board has authorized Chairman Chen Qi to determine the timing of these crypto purchases. With this move, MOGU joins a small group of China-based companies investing in digital assets, including DayDayCook Enterprise, Aurora Mobile, and Yunfeng Financial Group—all of which have seen stock gains following their crypto announcements.
For example, Aurora Mobile’s June 2025 announcement to allocate up to 20% of cash and equivalents into Bitcoin and other digital assets drove a nearly 10% pre-market surge in its shares.
Following MOGU’s announcement, its stock skyrocketed. A day after the news, shares climbed more than 80%, and at press time, were trading at $4.61—up 84.4% from recent levels below $3. Analysts note that further announcements regarding crypto purchases could drive the stock higher.
Companies adopting a “digital asset treasury” strategy often use such announcements to boost market sentiment and improve their financial outlook. However, some firms, like Strategy and Metaplanet, have experienced declines despite similar initiatives, highlighting the volatility inherent in crypto-linked corporate strategies.
