San Francisco-based technology firm Metromile has used 10% of the funds it previously said would be allocated towards crypto to buy Bitcoin (BTC).
According to Tuesday's filing from the United States Securities and Exchange Commission, or SEC, Metromile reported that it had purchased $1 million in Bitcoin in June. However, the firm recorded a loss of $100,000 in the original crypto buy, holding roughly $900,000 in Bitcoin as of June 30, or 25.6 BTC at the time.