US Car Insurer Metromile Puts $1M into Bitcoin

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Metromile, a San Francisco-based insurance company that sells pay-per-mileage car insurance through a digital platform, has recently invested $1 million in BTC.

The report filed with the Securities and Exchange Commission (SEC) shows that the company bought the cryptocurrency developed by Satoshi Nakamoto in the first 6 months of the year.

According to the company, it does not store the cryptocurrencies itself, instead, it uses the services of a third party.

The company added in May the possibility to pay for its products and receive refunds in Bitcoin. It also reported then that it intended to invest $10 million in the cryptocurrency.

We should remember that MicroStrategy became the first publicly-listed company to buy Bitcoin in August last year with an investment of $250 million.