New institutional player — MassMutual purchases $100M Bitcoin By Cointelegraph


New institutional player — MassMutual purchases $100M Bitcoin

Massachusetts-based insurance firm MassMutual just announced that it has purchased $100 million in for its general investment account.

According to a report from The Wall Street Journal, the company purchased the coins — purportedly 5,470 Bitcoin (BTC) given the current price of $18,279 — through New York-based fund management company NYDIG. MassMutual also reportedly bought a $5 million equity stake in the firm, which holds $2.3 billion in crypto.