MassMutual has greater than tripled the greenback worth of its bitcoin funding in beneath one yr.
The insurance coverage firm purchased an undisclosed quantity of BTC for $100,000,000 on December 10, 2020, when the bitcoin value was hovering round $18,500.
The Massachusetts Mutual Life Insurance Company has greater than tripled its bitcoin funding in beneath one yr. The earlier BTC/USD high earlier than December 10 was $19,918, and on the time of writing, one bitcoin was price over $60,000.
In December, MassMutual secured a $100 million bitcoin buy via institutional bitcoin companies supplier NYDIG. The Massachusetts-based insurance coverage firm jumped on the Bitcoin hype prepare with the announcement of its millionaire acquisition, empowered by the help of NYDIG.
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