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Nauman Khan

This Penny Stock Almost Doubled on Plans to Buy Bitcoin and Ethereum. Should You Buy Its Shares Now?

Crypto Bitcoin Ethereum e-commerce

Cryptocurrency-linked penny stocks have become some of the most explosive trades lately. Many small-cap firms are adopting Bitcoin (BTCUSD) and Ethereum (ETHUSD) treasury strategies to attract investors, a move pioneered by Strategy (MSTR) (formerly MicroStrategy) and now followed by a growing list of Nasdaq-listed names.

One of the latest entrants is Mogu (MOGU), a Chinese online fashion company that just announced plans to allocate $20 million into Bitcoin, Ethereum, and Solana (SOLUSD). With this pivot, Mogu is positioning itself not just as a digital fashion player but also as a potential crypto treasury stock, blending e-commerce with digital assets in a way that could capture investor enthusiasm.

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