The massmutual bitcoins investment was revealed in a Thursday press release.
This twin-play gives Massachusetts Mutual Life Insurance Co. direct exposure to cryptocurrency volatility and gives signs for other big players to follow the lead. NYDIG is one of the fastest-growing crypto-shops with roughly $2.3 billion under management.
MassMutual’s bet in Bitcoins is just a drop on its own $235 billion bucket in assets.
The life insurance company is the latest joining cryptocurrency boat into a financial mainstream ride.
Even with the pandemic taking hold of our everyday lives, big corporations and many fund managers joined crypto at a pace never seen before in our history.
NYDIG, hired crypto banker Patrick Sells to lead its crypto services.