Metromile, the digital insurance firm has become the latest public insurance company to add Bitcoin to its balance sheet as it announced that it would be buying $10 million in Bitcoin in the second quarter of this year. Apart from adding Bitcoin to their balance sheet, it would also allow customers to pay premiums for their insurance in Bitcoin, making them the first company to do both.
The firm said the decision was based on the growing demand for cryptocurrencies and they wanted to be at the forefront of helping their customers get all payment options. Being one of the few insurance companies with a fully automated system for paying premiums where Drivers pay only for what they use with Metromile’s real-time, personalized auto insurance policies priced and billed by the mile, the firm believes in adding the latest features for the customers.
Metromile Chief Executive Officer Dan Preston said,
“Metromile gives drivers control over how they want to pay for insurance. We started by
