{"id":10849,"date":"2021-08-11T23:54:04","date_gmt":"2021-08-11T23:54:04","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/nasdaq-listed-metromile-invests-1-million-in-bitcoin-sees-rapid-growth-in-global-cryptocurrency-adoption\/"},"modified":"2021-08-11T23:54:04","modified_gmt":"2021-08-11T23:54:04","slug":"nasdaq-listed-metromile-invests-1-million-in-bitcoin-sees-rapid-growth-in-global-cryptocurrency-adoption","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/nasdaq-listed-metromile-invests-1-million-in-bitcoin-sees-rapid-growth-in-global-cryptocurrency-adoption\/","title":{"rendered":"Nasdaq-Listed Metromile Invests $1 Million in Bitcoin \u2014 Sees Rapid Growth in Global Cryptocurrency Adoption"},"content":{"rendered":"<p><strong>The Nasdaq-listed auto insurance company Metromile has purchased $1 million in bitcoin. The company plans to \u201cbecome the first insurance company to allow policyholders the option to pay for insurance and receive payment for eligible claims in either bitcoin or dollars.\u201d<\/strong><\/p>\n<h2>Auto Insurance Platform Adds Bitcoin to Balance Sheet<\/h2>\n<p>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.<\/p>\n<p>The filing states:<\/p>\n<p>In June 2021, the company purchased and received $1.0 million of bitcoin. During the three months and six months ended June 30, 2021, the company recorded $0.1 million of impairment losses on bitcoin.<\/p>\n<p>\u201cThere were no realized gains or losses recognized during the three months and six months ended June 30, 2021,\u201d the filing details. \u201cAs of June 30, 2021, the carrying value of the company\u2019s bitcoin digital assets held was $0.9 million, which reflects cumulative impairments of $0.1 million. The fair market value of bitcoin held as of June 30, 2021 was $0.9 million.\u201d<\/p>\n<p><!-- growjs zone placement 31 -->    <!-- end of growjs zone placement --> <\/p>\n<p>Metromile announced in May that \u201cit will soon allow policyholders the option to pay for insurance and receive payment for eligible and approved insured claims in bitcoin or dollars.\u201d Metromile aims be the first insurance company to both accept premiums and pay claims in cryptocurrency.<\/p>\n<p>In its Q1 2021 letter to shareholders, the company said:<\/p>\n<p>As the adoption of cryptocurrency grows rapidly worldwide, it is becoming clear that the decentralization of finance has the potential to shift consumer behavior and financial infrastructure \u2026 We believe that allowing cryptocurrency payment is fully aligned with our commitment to innovation, equitability, and promoting financial resilience.<\/p>\n<p>The auto insurer joins a growing list of companies that have purchased bitcoin for their corporate treasuries, including Michael Saylor\u2019s Microstrategy, Elon Musk\u2019s Tesla, and Jack Dorsey\u2019s Square.<\/p>\n<p><em><strong>What do you think about Metromile buying bitcoin? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Bitcoin News<br \/>\nFeatured, auto insurance, bitcoin balance sheet, bitcoin treasury, car insurance, car insurance company, car insurer, metromile, metromile bitcoin, metromile crypto, metromile cryptocurrency<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nasdaq-listed auto insurance company Metromile has purchased $1 million in bitcoin. The company plans to \u201cbecome the first insurance company to allow policyholders the option to pay for insurance and receive payment for eligible claims in either bitcoin or dollars.\u201d Auto Insurance Platform Adds Bitcoin to Balance Sheet The Nasdaq-listed insurance company Metromile Inc.&hellip;<\/p>\n","protected":false},"author":0,"featured_media":10850,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-10849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10849"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=10849"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10849\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/10850"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=10849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=10849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=10849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}