Digital insurer Metromile follows through with $1M Bitcoin purchase
In May, the company said it intended to allocate $10 million towards Bitcoin in the second quarter of 2021. San Francisco-based technology firm Metromile has used 10% of the funds it previously said would be allocated towards crypto to buy Bitcoin.According to an Aug. 10 filing from the U.S. Securities and Exchange Commission, or SEC, Metromile reported it had purchased $1 million in Bitcoin (BTC) in June. However, the firm recorded a loss of $100,000 in the original crypto buy, holding roughly $900,000 in Bitcoin as of June 30, or 25.6 BTC at the time.Metromile’s financial report for the....
Related News
The company will soon accept BTC payments on insurance premiums as part of a broader embrace of digital assets. Metromile, Inc., a digital insurer headquartered in San Francisco, is making Bitcoin (BTC) a core part of its business operations, offering further evidence of growing mainstream adoption of digital assets. The company announced Thursday that it will soon give policyholders the option to pay for insurance and receive payment on eligible insurance claims in BTC or dollars. That makes Metromile the first insurance company to both accept premiums and pay insurance claims in....
Metromile Purchased $1 Million Worth Of Bitcoin. The Company Announced It Will Soon Implement A Bitcoin Payment Solution On Its Platform, And That It Would Purchase Additional Bitcoin.
The Nasdaq-listed auto insurance company Metromile has purchased $1 million in bitcoin. The company plans to “become the first insurance company to allow policyholders the option to pay for insurance and receive payment for eligible claims in either bitcoin or dollars.” Auto Insurance Platform Adds Bitcoin to Balance Sheet The Nasdaq-listed insurance company Metromile Inc. disclosed its bitcoin purchase in a filing with the U.S. Securities and Exchange Commission (SEC) dated Aug. 10. Metromile is a digital insurance platform and pay-per-mile auto insurer. The filing states: In....
BAKE, SYS and UTC have secured triple-digit gains as large and small-cap altcoins capitalize on Bitcoin’s range-bound price action. Bitcoin’s (BTC) institutional adoption shows no signs of slowing down. This week Latin America’s largest e-commerce company, Mercado Libre, disclosed that it had purchased $7.8 million worth of Bitcoin as part of its treasury strategy. Mercado Libre was not only in this decision, as Metromile Inc., a Nasdaq-listed digital insurer also said it plans to buy $10 million worth of Bitcoin in the second quarter of this year. Additionally, Metromile will soon start....
Defi insurer Cover Protocol, designed to reduce smart contract failure risks, was exploited by a bug in its smart contract on Monday morning.