The company Metromile from San Francisco, which sells insurance for cars with payment for mileage through a digital platform, has invested $1 million in the first cryptocurrency.
According to a report filed with the US Exchange and Securities Commission (SEC), the firm acquired digital gold during the first half of 2021. Metromile did not sell digital assets during this period.
The company clarified that it uses the services of a third-party service to store cryptocurrency.
In May, Metromile announced the addition of the ability to pay for insurance and receive compensation in bitcoin. Then the company said that it plans to purchase the first cryptocurrency in the amount of $10 million to provide its solution.
Metromile is required to file reports with the SEC, since it became public in February 2021 through a reverse takeover deal.
Recall that MicroStrategy was the first public company to invest in bitcoin. In August 2020, the company acquired a cryptocurrency for $250 million.
In the future, MicroStrategy used not only its own capital, but also debt financing to buy digital gold.
After buying an additional 13,005 BTC in June, the company brought the volume of its cryptocurrency to 105,085 BTC.
Wow ! Bitcoin getting every financial area