
Massachusetts Mutual Life Insurance Co. has acquired $100 million worth of Bitcoin, according to a Dec. 10 report by The Wall Street Journal.
Advertisement
MassMutual now also holds a $5 million stake in New York Digital Investment Group, the crypto asset management firm that was responsible for carrying out the purchase.
NYDIG founder Ross Stevens claims that a "depreciating dollar" was the main impetus behind the investment.
BREAKING: Ripple CTO Stepping Down, CEO and President Share Reactions
Jim Cramer Says Buy Crypto; XRP, SOL, ADA, DOGE, and LTC Face ETF Withdrawals; $154 Million XRP Trade Ends in Disaster — Crypto News Digest
XRP to $3.50? Bollinger Bands Reveal Best Price Scenario
Just In: Tether Buys $1,000,000,000 in Bitcoin on Q3's Closing Day
Even though $100 million is just a drop in the bucket compared to its $235 billion investment account, the company — which was founded back in 1851 — claims that it provides "measured yet meaningful exposure" in the age of digitalization.
Advertisement