Another big firm registered on Nasdaq, Metromile Car Insurer, <a href="https://www.forbes.com/advisor/car-insurance/metromile-bitcoin-payments/" target="_blank" rel="nofollow noopener">reports </a>to the SEC that it has invested $1 million in Bitcoin. The automobile insurance firm recently unveiled its results for the second quarter to the Securities and Exchange Commission and mentioned that the firm purchased Bitcoin.
<h2>Metromile Car Insurer Reveals Bitcoin Purchase in Report to the SEC</h2>
In the firm’s report to the SEC, it was revealed that the pay-per-mile automobile insurance firm based in San Francisco, Metromile Car Insurer, has purchased an aggregate of $1 million worth of digital currencies. However, the purchase was only of the largest cryptocurrency in the market, Bitcoin.

Back in the month of May of this year, it was reported by Forbes that Metromile is <a href="https://www.cryptoknowmics.com/news/metromile-plans-10m-bitcoin-purchase-says-it-supports-fairer-insurance/">planning to begin</a> letting policyholders pay premiums in Bitcoin and receive claim payouts in BTC too.

https://twitter.com/MacroScope17/status/1425229914786172935?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1425229914786172935%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fu.today%2Fnasdaq-traded-metromile-car-insurer-buys-1-million-in-bitcoin-reports-this-to-sec

MicroStrategy was the very first firm to purchase Bitcoin, and it is spearheaded by <a href="https://www.cryptoknowmics.com/news/microstrategy-ceo-michael-saylor-believes-his-mission-is-fixing-balance-sheets-of-the-world/">Michael Saylor</a>.

Back in the month of August 2020, MicroStrategy purchased their first Bitcoin and since then, the firm has <a href="https://www.cryptoknowmics.com/news/microstrategy-plans-to-purchase-more-btc-despite-making-losses-in-quarter-2/">kept on adding more and more</a> Bitcoin. They purchased Bitcoin several times this year.

In addition to this, it should be noted that the company is not planning to sell BTC anytime soon, as has been revealed by the CEO of the company itself.
<h2>Other Companies Following the Lead of MicroStrategy</h2>
Watching MicroStrategy investing their money in Bitcoin, several other companies have also stood up for investing some capital in the flagship crypto asset. 

<a href="https://www.cryptoknowmics.com/news/chinese-firm-meitu-announces-another-10-million-crypto-investment/">Meitu</a>, the Chinese giant, is one of those companies, and it has bought $40 million worth of BTC and ETH.

<a href="https://www.cryptoknowmics.com/news/paypal-raises-crypto-purchase-limit-in-the-us-to-100000/">PayPal</a>, the payments giant, is also included in the list of companies that allowed its users to invest their money in Bitcoin and other altcoins, along with providing the allowance of trading of the crypto assets on its platform.

Metromile Car Insurer Invests $1 Million in Bitcoin, Reports Purchase to the SEC

Another big firm registered on Nasdaq, Metromile Car Insurer reports to the SEC that it has invested $1 million in Bitcoin.

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.

Metromile Car Insurer Invests $1 Million in Bitcoin, Reports Purchase to the SEC

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