Mass mutual buys bitcoin

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Everyone Is Pro-Bitcoin (Everyone)
MassMutual, an American financial services company announced today that it has invested approximately $ million in Bitcoin. Along with a $5 million equity investment in NYDIG, MassMutual has also purchased $ million in Bitcoin for its general investment account in. A Massachusetts-based insurance firm has bought $ million worth of bitcoin for its general insurance account, according to The Wall Street Journal.

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What Does an Investor Do? First, it is a conservative investor, meaning it only makes investments in tried-and-tested financial products or those that are investment grade. Among institutional investors that have put money into Bitcoin, Massachusetts Mutual is a special case for a couple of reasons. NYDIG plans to take advantage of the newly formed partnership with MassMutual in order to attract more institutional investors. Despite the reason that MassMutual did not disclose the exact reason why the company selected Bitcoin as an investment tool, the firm told Wall Street Journal that the recent purchase is a measured and meaningful exposure to an evolving market of digital assets.

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