- MassMutual, an American multinational insurance company has announced the purchase of $100 million in Bitcoin.
- This is the latest example of institutional investors joining the cryptocurrency market.
The massive insurance company that has more than $235 billion in its accounts, has just announced the purchase of $100 million in Bitcoin according to the Wall Street Journal. The recent acquisition is set to provide the insurance company with a “measured yet meaningful exposure to a growing economic aspect of our increasingly digital.”
The company also invested a $5 million equity stake in New York Digital Investments Group. MassMutual had a revenue of over $29 billion in 2016 and counts with more than 10,000 employees globally.