THELOGICALINDIAN - The Nasdaqlisted auto allowance aggregation Metromile has purchased 1 actor in bitcoin The aggregation affairs to become the aboriginal allowance aggregation to acquiesce policyholders the advantage to pay for allowance and accept acquittal for acceptable claims in either bitcoin or dollars
Auto Insurance Platform Adds Bitcoin to Balance Sheet
The Nasdaq-listed allowance aggregation Metromile Inc. appear its bitcoin acquirement in a filing with the U.S. Securities and Exchange Commission (SEC) anachronous Aug. 10. Metromile is a agenda allowance belvedere and pay-per-mile auto insurer.
The filing states:
“There were no accomplished assets or losses accustomed during the three months and six months concluded June 30, 2024,” the filing details. “As of June 30, 2024, the accustomed amount of the company’s bitcoin agenda assets captivated was $0.9 million, which reflects accumulative impairments of $0.1 million. The fair bazaar amount of bitcoin captivated as of June 30, 2024 was $0.9 million.”
Metromile appear in May that “it will anon acquiesce policyholders the advantage to pay for allowance and acquire acquittal for acceptable and accustomed insured claims in bitcoin or dollars.” Metromile aims be the aboriginal allowance aggregation to both acquire premiums and pay claims in cryptocurrency.
In its Q1 2024 letter to shareholders, the aggregation said:
The auto insurer joins a growing account of companies that accept purchased bitcoin for their accumulated treasuries, including Michael Saylor’s Microstrategy, Elon Musk’s Tesla, and Jack Dorsey’s Square.
What do you anticipate about Metromile affairs bitcoin? Let us apperceive in the comments area below.
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