MassMutual Bitcoin Investment Has Tripled In Dollar Value
The Massachusetts-based insurance company’s $100 million bitcoin purchase in December 2020 is now worth more than $300 million.MassMutual has more than tripled the dollar value of its bitcoin investment in under one year.The insurance company bought an undisclosed amount of BTC for $100,000,000 on December 10, 2020, when the bitcoin price was hovering around $18,500.The Massachusetts Mutual Life Insurance Company has more than tripled its bitcoin investment in under one year. The previous BTC/USD top before December 10 was $19,918, and at the time of writing, one bitcoin was worth over....
Related News
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,....
Rothschild Investment Corp shared in a new filing that it has more than tripled its bitcoin exposure through GBTC over the past quarter.
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.
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....
MassMutual shocked the industry yesterday when it purchased Bitcoin to complement its general investment account. Massachusetts Mutual Life Insurance Company, also known as MassMutual, is a long-standing life insurance company that services five million clients. It is based in the city of Springfield, Massachusetts, with over 7,000 employees. The company is reported to own over […]