Bitcoin Investment Firm NYDIG Raises Additional $100 Million

2021-4-10 10:12

Crypto investment provider NYDIG raised an additional $100 million in growth capital earlier this week. The new funding round featured MassMutual, Stone Ridge Holdings, New York Life, and Liberty Mutual Insurance, among others as strategic partners. This follows the investment firm’s $200 million cash injection back in early March. 

In the previous funding round, Robert Gutmann, CEO of NYDIG, stated that the additional funds would be used to develop “Bitcoin-related strategic initiatives spanning from investment management, insurance, banking, clean energy, and philanthropy.” With recent funding and strategic hires, Gutmann promised to deliver an “explosion of innovation in Bitcoin products and services.”

How Potential Inflation has led to NYDIG’s Growth 

Ross Stevens, CEO of Stone Ridge and Executive Chairman of NYDIG, continued, “Fiat depreciation causes inflation in fiat premiums, while collapsing the purchasing power of claims. We see a brighter bitcoin-powered future for the billions who depend on the insurance industry every year.” More simply put, high inflation erodes the current value of fixed-rate future payments — which is an obvious detriment of insurance companies. Using Bitcoin over fiat, insurers can indirectly “hedge” against inflation. 

Growing institutional demand for cryptocurrencies has led to NYDIG nearing $6 billion in assets under management. The firm partnered with Morgan Stanley’s private wealth management arm to offer Bitcoin investments to wealthy clients. 

The New-York based firm also announced that Mike Sapnar, CEO of major insurance company TransRe, would join the company as the global head of insurance solutions, assisting the firm in paving the way for “Bitcoin-driven innovation” in the property and casualty industry. 

“With the addition of Mike Sapnar, a trusted partner for years, and now with Starr, Liberty Mutual, New York Life, and MassMutual as shareholders of NYDIG, we will be working tirelessly to enable new Bitcoin-denominated products for global insureds,” Stevens said.

Featured image from UnSplash

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Intelligent Investment Chain (IIC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: -79.71 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0001186 (-100%)

million new additional 100 nydig investment york

Источник: bitcoinist.com

million new → Результатов: 126


Фото:

Hedera Hashgraph Raises $100 Million; Seeking Another $20 Million via Crowdsale

The Hedera Hashgraph alternative blockchain platform has successfully raised $100 million through a future token sale targeted at institutional investors. As first reported by VentureBeat on August 1, 2018, the Hedera Hashgraph team is primed to use the funds to develop a new distributed public ledger that would be faster, more secure, and more efficient, than current blockchain systems.

2018-8-4 12:00


Фото:

Queensland Backs Cryptocurrency Point-of-Sale Project for Tourism

The Queensland government in Australia is backing a cryptocurrency point-of-sale system that officials believe will help boost tourism throughout the area. Thus far, they have given over $8 million in Australian dollars ($6 million USD) to roughly 70 different companies that will work to inspire innovation and create new ideas within the region’s travel space.

2018-8-2 00:27


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Spot ETF: NYDIG Research Predicts $30 Billion Of Demand

In a research report, NYDIG’s Global Head of Research, Greg Cipolaro, delved into the highly anticipated spot Bitcoin ETF and its potential impact on the BTC price. Cipolaro examines the opportunity it presents, its implications for the investment community, and the potential demand it could unleash.

NYDIG продолжает аккумулировать значительное число майнеров биткоинов

NYDIG уже обменяла свою дебиторскую задолженность на майнинговое оборудование ряда компаний. Как стало известно, NYDIG (New York Digital Investment Group) активно увеличила свой контроль над значительным количеством майнинговых машин.