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Insurance Giant MassMutual Buys $100 Million of Bitcoin
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investopedia.comInsurance giant Massachusetts Mutual recently unveiled a $100 million investment in Bitcoin (BTCUSD) for its general investment account. The company purchased its Bitcoin through the New York Digital Investment Group (NYDIG) and took a $5 million minority equity stake in the fund management outfit. In a press release, MassMutual said that the investment gives it a «measured yet meaningful exposure to a growing economic aspect of our increasingly digital world.»
Among institutional investors that have put money into Bitcoin, Massachusetts Mutual is a special case for a couple of reasons. First, it is a conservative investor, meaning it only makes investments in tried-and-tested financial products or those that are investment grade.
MassMutua
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