Metromile bought Buys $1 Million in Bitcoin

On Aug 11, 2021

Another major company, Metromile shows his eager interest in Bitcoin. Metromile bought $1 million dollars of Bitcoin and they revealed it in their earnings call announcement.

Metromile is a pay-per-mile automobile insurance company which is based in San Francisco, revealed their Investment in Bitcoin during reporting its earning calls of second quarter of 2021.

This company is listed on Nasdaq exchange with a Mile ticker.

Company revealed that they bought around $1 million dollars of digital assets and they also published this information to become legal holders of digital assets. They informed the U.S. Securities and Exchange Commission regulatory agency that this purchase was for only Bitcoin.

Well this decision of Metromile is not a sudden response toward digital assets. They already planned in May. According to a report by Forbes, Metromile plans to allow their policyholders to pay premiums in Bitcoins and also to get out in Bitcoin.

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This information of Metromile to file the form to unveiled their Bitcoin buy comes into light when it is shared by @Macroscope on twitter

In an SEC filing this afternoon, Metromile (NASDAQ: MILE), the car insurance company, stated:

"During the six months ended June 30, 2021, the Company purchased an aggregate of $1.0 million in digital assets, comprised solely of bitcoin."

Filing:https://t.co/1DYAno8HRT
— MacroScope (@MacroScope17) August 10, 2021

Now Metromile is going to be the second biggest company after MicroStrategy.

Micheal Saylor CEO of MicroStrategy said that the company is buying Bitcoin since August 2020 and now they will hold Bitcoin atleast for 10 year.