By Harry B - Crypto Speculator - 11-08-2021
In 2021 there have quite a few significant companies who are investing in Bitcoin (BTC). Business intelligence company MicroStrategy currently holds around $5 billion in Bitcoin investments. In the early months of this year, automobile company Tesla invested $1.5 billion into the crypto giant.
Moreover, other businesses are beginning to follow in their footsteps as a car insurance company puts money towards Bitcoin buying. Metromile, a pay-per-mile car insurance company, originally announced back in May that it had plans to invest $10 million into crypto coin giant Bitcoin.
However, instead of investing the total $10 million that the company stated would be solely devoted to cryptocurrency, Metromile had only invested 10% of the funds. The San Francisco-based company made an official report to the SEC, which acknowledges that Metromile spent only $1 million on Bitcoin.
That being said, from the amount the car insurance business invested, it appears they also lost 10% by June 30, owning around $900,000 in BTC. Within the financial report, Metromile had $202.6 million in cash and equivalent in the second quarter of 2021; this suggests that Bitcoin is only 0.5% of the entire fund. Investment experts typically suggest having between 1% to 3% of total funds invested into crypto assets.
The news comes after Metromile announced that they would invest the full $10 million into Bitcoin shortly before filing the financial report to the Securities and Exchange Commission (SEC).
If you are looking to Buy and Sell Bitcoin, then you can head over to BC Bitcoin where you can safely start investing today.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards