As Bitcoin continues to hold strong at its above $18k mark, more financial giants like Massachusetts Mutual (MassMutual) are jumping on the BTC bandwagon with a $100 million buy. 

The insurance company bought the Bitcoin on December 10th through New York Digital Investment Group LLC (NYDIG), a Bitcoin investment firm. The firm currently manages over $2.3 billion in Bitcoin accounts. MassMutual owns $5 million in equity stake in the firm as well. 

The $100 million BTC may seem small compared to MassMutual’s $235 billion account for general investment, but in the crypto market, it is quite significant. 

With predictions of Bitcoin going as high as $300,000 in the next few years, a $100 million is a large—and let’s face—a smart move. 

The investment also assists Bitcoin and the market move toward this optimistic direction. As more companies like Microstrategy (now planning to buy $650 million more BTC) and Square buying/investing bulks of BTC and adopting crypto into their platforms, the market gains more strength.

Companies like MassMutual undeniably control the economy so their support means a lot to the future of cryptocurrency. 

Like MassMutual states, it is an investment for the inevitable part of a changing society by “giving us measured yet meaningful exposure to a growing economic aspect of our increasingly digital world.”

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