{"id":54753,"date":"2021-12-15T18:32:53","date_gmt":"2021-12-15T16:32:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=54753"},"modified":"2025-09-03T21:57:26","modified_gmt":"2025-09-03T18:57:26","slug":"lemonade-to-own-1m-of-bitcoin-after-metromile-deal","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/lemonade-to-own-1m-of-bitcoin-after-metromile-deal\/","title":{"rendered":"Lemonade to own $1m of Bitcoin after Metromile deal"},"content":{"rendered":"<p>The New York Stock Exchange-listed insurer Lemonade has agreed to acquire competitor Metromile, which had previously invested in Bitcoin.<\/p>\n<p>As a public company, Lemonade filed with the U.S. Securities and Exchange Commission (SEC) a <a href=\"https:\/\/www.sec.gov\/ix?doc=\/Archives\/edgar\/data\/1691421\/000110465921149421\/lmnd-20211210xs4.htm#TOC\">Form S-4<\/a> informing the regulator of the terms of the deal.<\/p>\n<p>A screenshot from it became the source of some confusion in the cryptocurrency community.<\/p>\n<p>CastleIsland Investments general partner Matt Walsh, who posted it on Twitter, wrote:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abLooks like $LMND is on the bitcoin balance sheet bandwagon. Paging Michael Saylor\u00bb<\/p>\n<\/blockquote>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Looks like <a href=\"https:\/\/twitter.com\/search?q=%24LMND&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$LMND<\/a> is on the bitcoin balance sheet bandwagon. Paging Michael Saylor <a href=\"https:\/\/t.co\/AY1jhSuKcv\">pic.twitter.com\/AY1jhSuKcv<\/a><\/p>\n<p>\u2014 Matt Walsh (@MattWalshInBos) <a href=\"https:\/\/twitter.com\/MattWalshInBos\/status\/1470784429438218252?ref_src=twsrc%5Etfw\">December 14, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>Anthony Pompliano, co-founder of Morgan Creek Digital, kicked off his YouTube podcast with this news.<\/p>\n<p>However, the quoted excerpt relates to the Metromile acquisition.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abDuring the nine months ended September 30, 2021, the company acquired digital assets worth $1 million, consisting solely of Bitcoin,\u00bb the paragraph states.<\/p>\n<\/blockquote>\n<figure class=\"wp-block-image is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/_MPxBZdj7p7_OLOIHF8wrjpF4qHZyLx5R2Wmp_STkgM6faHcWqsKlGMNBu0a0uZlfsBRRho7Ymtnh_E3IcdVuNNZ2iv_6AzFv1AnTzaV5ePzsfEXLz5ZqvaIvzxdf8DyraXYB3Sk\" alt=\"Lemonade to become owner of Bitcoin worth $1m\" width=\"822\" height=\"45\"\/><figcaption>Source: SEC.<\/figcaption><\/figure>\n<p>Metromile accounts for cryptocurrency as intangible assets and uses a third-party custodial service for its storage.<\/p>\n<p>About <a href=\"https:\/\/forklog.com\/en\/news\/metromile-the-san-francisco-based-auto-insurer-invests-1-million-in-bitcoin\">the purchase of Bitcoin for $1 million<\/a>, the company reported to the SEC in August. Before this, Metromile <a href=\"https:\/\/forklog.com\/en\/news\/us-auto-insurer-metromile-to-offer-bitcoin-payouts-to-customers\">announced<\/a> to customers the ability to pay bills and receive insurance payouts in digital gold.<\/p>\n<p>The aforementioned Michael Saylor, cited by Walsh, is the founder and CEO of MicroStrategy, which <a href=\"https:\/\/forklog.com\/en\/news\/microstrategy-becomes-the-first-nasdaq-listed-company-to-invest-part-of-its-capital-in-bitcoin\">was among the first public companies to invest in Bitcoin<\/a>.<\/p>\n<p>Back in December, after the purchase of an additional 1,434 BTC for about $82.4 million, MicroStrategy raised its digital-asset balance to 122,478 BTC. According to Saylor, the firm may <a href=\"https:\/\/forklog.com\/en\/news\/michael-saylor-bitcoin-is-a-world-reserve-asset-but-not-a-currency\">store digital gold &#8220;forever&#8221;<\/a>.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Stock Exchange-listed insurer Lemonade agreed to acquire competitor Metromile, which had previously invested in Bitcoin.<\/p>\n","protected":false},"author":1,"featured_media":54754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1156,508,26],"class_list":["post-54753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-institutional-investors-and-whales","tag-insurance","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/54753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=54753"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/54753\/revisions"}],"predecessor-version":[{"id":54755,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/54753\/revisions\/54755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/54754"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=54753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=54753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=54753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}