418: MASSMUTUTAL JOINS THE BITCOIN CLUB WITH $100M PURCHASE!! ‘INSANELY BULLISH’ 10X BTC PREDICTION!!

Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News

English - December 11, 2020 15:44 - 21 minutes - 10.7 MB - ★★★★ - 537 ratings
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This might be the most important Bitcoin (BTC) news of 2020, says Mike Novogratz.

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 Bitcoins - purportedly 5,470 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 cryptocurrency.

MassMutual told Cointelegraph that the investment is part of a broad strategy, with the goal of achieving “measured yet meaningful exposure to a growing economic aspect of our increasingly digital world."

The company clarified that: "Our $100 million investment in Bitcoin through NYDIG will represent .04 percent – or less than one tenth of one percent – of our total GIA."

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