2020-12-14 13:01 |
JPMorgan analysts said MassMutual's recent $100 million bitcoin purchases are a sign of growing mainstream acceptance for the cryptocurrency.
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The Massachusetts-based insurance company’s $100 million bitcoin purchase in December 2020 is now worth more than $300 million.
MassMutual’s $100M BTC investment has the potential to open a massive new investment category, according to analysts.
MassMutual becomes the latest announced institutional buyer of bitcoin, and this one could be even more significant in terms of precedent.
This year is shaping up to be the start of major institutional interest in Bitcoin. The latest company seeking refuge from global macro uncertainty is Massachusetts Mutual. MassMutual ‘Meaningful Exposure’ to Bitcoin The firm, based in Springfield, Massachusetts, has just announced a $100 million investment in Bitcoin.
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.
Massachusetts Mutual has made a $100 million investment in bitcoin and a $5 million equity stake in New York Digital Investments Group.