{"id":243513,"date":"2021-05-06T16:30:40","date_gmt":"2021-05-06T13:30:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nasdaq-listed-insurer-metromile-plans-10m-bitcoin-purchase\/"},"modified":"2021-05-06T16:30:40","modified_gmt":"2021-05-06T13:30:40","slug":"nasdaq-listed-insurer-metromile-plans-10m-bitcoin-purchase","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nasdaq-listed-insurer-metromile-plans-10m-bitcoin-purchase\/","title":{"rendered":"# Nasdaq-listed insurer Metromile plans $10M Bitcoin purchase"},"content":{"rendered":"<p>&#8220;<strong># Nasdaq-listed insurer Metromile plans $10M Bitcoin purchase  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNmZkOTc0NDctMzM2MS00OTZlLWE2MjMtNzE0YTcxZTQ1ZTRjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Metromile, Inc., a digital insurer headquartered in San Francisco, is making Bitcoin (BTC) a core part of its business operations, offering further evidence of growing mainstream adoption of digital assets.\u00a0<\/p>\n<p>The company announced Thursday that it will soon give policyholders the option to pay for insurance and receive payment on eligible insurance claims in BTC or dollars. That makes Metromile the first insurance company to both accept premiums and pay insurance claims in cryptocurrency. <\/p>\n<p>Equally as notable, the company said it will allocate $10 million towards Bitcoin in the second quarter. Although it didn\u2019t specify an exact date, a $10 million purchase equates to roughly 175.4 BTC at current price levels. <\/p>\n<p>The company said it believes that accepting crypto payments \u201cwill support its commitment to fairer insurance and promote financial resilience for policyholders as cryptocurrency becomes mainstream and a more significant portion of consumers\u2019 assets.\u201d<\/p>\n<p>Dan Preston, Metromile\u2019s CEO, further explained his company\u2019s rationale:<\/p>\n<blockquote><p>\u201cSupporting decentralized finance and adding bitcoin as a new payment option is the next logical step for our digital insurance platform and end-to-end AI claims automation. The result is fairer insurance for all.\u201d<\/p><\/blockquote>\n<p>Metromile is a pay-per-mile auto insurer that calculates premium payments and coverage based on miles driven as opposed to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximations. The company claims that its insurance coverage produces average savings of 47% per year. <\/p>\n<p>The company held its fourth-quarter earnings call on Mar. 30, where it <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ir.metromile.com\/static-files\/b3465568-694c-4ccc-a772-ca92e3870140\">reported<\/a> a sizable increase in policies in force. Insurance revenue was down slightly compared with 2019, which was a big year in terms of growth. <\/p>\n<p>Metromile\u2019s share price, which trades under the Nasdaq ticker symbol MILE, closed down 2.1% at $8.81 on Wednesday. At current values, the company has a total market capitalization of $1.11 billion. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/nasdaq-listed-insurer-metromile-plans-10m-bitcoin-purchase\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Nasdaq-listed insurer Metromile plans $10M Bitcoin purchase &#8221; Metromile, Inc., a digital insurer headquartered in San Francisco, is making Bitcoin (BTC) a core part of its business operations, offering further evidence of growing mainstream adoption of digital assets.\u00a0 The company announced Thursday that it will soon give policyholders the option to pay for insurance&#8230;<\/p>\n","protected":false},"author":1,"featured_media":243514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNmZkOTc0NDctMzM2MS00OTZlLWE2MjMtNzE0YTcxZTQ1ZTRjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74937,74863,74355,117,70299,70359],"class_list":["post-243513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-price","tag-cryptocurrencies","tag-adoption","tag-business","tag-insurance","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/243513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=243513"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/243513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/243514"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=243513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=243513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=243513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}