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 buckets 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.
As per Coindesk, NYDIG refused to comment on the investor of that fund.