MassMutual Invests $100 Million in Bitcoin

The insurer MassMutual, serving 5 million customers, invested $100 million in Bitcoin. This was сообщил the head of NYDIG’s cryptocurrency funds.

MassMutual, based in Massachusetts, has been operating since 1851 and oversees $235 billion in insurance accounts.

According to The Wall Street Journal, one of the main factors behind the purchase of Bitcoin was the rise in dollar inflation.

The insurer also bought a $5 million stake in NYDIG. MassMutual’s Chief Investment Officer Tim Corbett said the deals would provide long-term benefits for clients.

Earlier, NYDIG raised $105 million from 15 investors for the NYDIG Institutional Bitcoin Fund. In October, its parent company Stone Ridge Holdings Group added 10 000 BTC (~$114 million at the time of writing).

In December, MicroStrategy announced its third by count investment in Bitcoin of $50 million.

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