MassMutual Buys $100 Million Worth Of Bitcoin
The Massachusetts Mutual Life Insurance Company has jumped on the Bitcoin hype train with the announcement of its purchase of $100 million in BTC for its general insurance account, which totaled almost $235 billion as of September, according to the Wall Street Journal. This continues an ongoing trend of companies and institutions diving headfirst into buying bitcoin this year, which seems to be creating even more institutional FOMO as it goes. This could potentially be just the start of a bitcoin accumulation strategy for the company. The bitcoin was bought via trading service New York....
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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,....
Massachusetts Mutual has made a $100 million investment in bitcoin and a $5 million equity stake in New York Digital Investments Group.
Nasdaq-listed billion-dollar company Microstrategy has made its third large bitcoin purchase. The company now holds about 40,824 bitcoins, worth over $780 million at the current price. Microstrategy’s Third Bitcoin Buy Microstrategy Inc. (NASDAQ: MSTR) has bought more bitcoins. CEO Michael Saylor tweeted Friday: Microstrategy has purchased approximately 2,574 bitcoins for $50.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $19,427 per bitcoin. We now hold approximately 40,824 bitcoins. Microstrategy also informed the U.S.....
The Massachusetts-based insurance company’s $100 million bitcoin purchase in December 2020 is now worth more than $300 million.
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....