The avalanche of institutional Bitcoin investors continues with Massachusetts Mutual Life Insurance Co. According to a statement, the U.S financial services company (with more than 5 million clients) has purchased $100 million in Bitcoin for its general investment fund.
In addition, Massachusetts Mutual Life Insurance Co also acquired a $5 million minority equity stake in NYDIG, a leading provider of institutional investment and technology solutions for Bitcoin. The company is the latest to invest in the largest cryptocurrency following MicroStrategy Inc., which has recently expanded its investments into the coin.
The tide is turning – institutional investors are getting on board with bitcoin.
— CoinMetrics.io (@coinmetrics) December 1, 2020
According to Bloomberg, “The investment in Bitcoin will represent 0.04% of the general investment account of nearly $235 billion as of Sept. 30, MassMutual said.“