New institutional player — MassMutual purchases $100M Bitcoin
The company reportedly hopes to achieve "measured yet meaningful exposure to a growing economic aspect of our increasingly digital world." Massachusetts-based insurance firm MassMutual just announced that it has purchased $100 million in Bitcoin for its general investment account.According to a report from The Wall Street Journal, the company purchased the coins — purportedly 5,470 Bitcoin (BTC) given the current price of $18,279 — through New York-based fund management company NYDIG. MassMutual also reportedly bought a $5 million equity stake in the firm, which holds $2.3 billion in....
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Leading life insurance company Massmutual has become the latest big company to invest a huge sum of money in bitcoin. Massmutual believes that having a bitcoin position in its investment account will help the company deliver long-term value to its insurance policyholders. Massmutual Buys Bitcoin Worth $100 Million Massachusetts Mutual Life Insurance Company (Massmutual) announced on Thursday that it has purchased $100 million worth of bitcoin and also a $5 million equity investment in Nydig, a provider of institutional investment and technology solutions for bitcoin. Founded in 1851,....
2020 has seen institutions buy into bitcoin at a record pace. The latest, major insurance company MassMutual, just made a nine-figure entry. The post MassMutual Buys $100 Million Worth Of Bitcoin appeared first on Bitcoin Magazine.