This became possible after the purchase of a competitor Metromile

​US insurance company Lemonade has become a bitcoin owner

16.12.2021 - 07:05

90

1 min

.

What’s new? A major US insurance company has become a bitcoin owner worth $1 million, according to a podcast by the Morgan Creek Capital head, Anthony Pompliano. This was made possible after the purchase of a competitor Metromile.

The full podcast release

What else is known about the deal? Lemonade has published all the terms of the takeover of the Metromile company in its report to the US Securities and Exchange Commission (SEC).

Report on the SEC website

The data shows that Metromile bought bitcoin sequentially over nine months from January to September 2021. The total amount of assets currently stands at $1 million, with all funds held on a third-party custodial service. Whether the large insurer Lemonade will continue to hold the cryptocurrency or sell it after the takeover is not yet known.

Author:

Michael Golikov Michael Golikov

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy