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Author Topic: New institutional player — MassMutual purchases $100M Bitcoin  (Read 276 times)
Charles-Tim
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December 10, 2020, 08:16:39 PM
 #1

Institutions are waking up and seeing bitcoin as an investment opportunity, I think many more institutions will still likely invest in bitcoin. I have just read in a news another institutional player, MassMutual that have just invested $100 million in bitcoin. You can check the news below.

Massachusetts-based insurance firm MassMutual just announced that it has purchased $100 million in Bitcoin 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.

The report states that the investment is part of MassMutual’s strategy to take advantage of new opportunities while remaining diversified, providing “measured yet meaningful exposure to a growing economic aspect of our increasingly digital world."

The purchase comes as major institutional players are adopting Bitcoin for the first time and going longer on crypto investments

https://cointelegraph.com/news/new-institutional-player-massmutual-purchases-100m-bitcoin





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December 10, 2020, 11:27:11 PM
 #2

This time, we will be seeing more and more big institutions getting interested in crypto.
So the rise in the market is very different from the 2017 rise, which was driven more on hype without foundation.
A lot of new crypto users I believe, are now more educated when it comes to crypto investments.
If this will continue, more institutions and big companies taking their risks into crypto, there's no doubt that bitcoin will further increase in the next coming years.
And we will be seeing a new ATH with better foundation. Let us hope that scammers will lessen their numbers at least.

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December 10, 2020, 11:35:33 PM
 #3

This 2020 got most of the institutional gets in. And Grayscale is the first to have been seen acquiring continuously. Other institutions like Jamie Dimon's JP morgan chase has to create a drama for them to get in.
I don't know much about MassMutual but that's heft of a purchase that they've made. 2021 will probably get more attention from financial institutions and learning about their bitcoin purchase in hundreds millions of dollars.



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December 10, 2020, 11:53:13 PM
 #4

They have assets to spend and money to risk; they can afford to allocate $100M to the latest investment fad no doubt. I’m beginning to believe that bitcoin will slowly become a viable asset for huge companies with the capacity to risk a huge amount on the swing. The returns are significantly higher than the risk this time, and with a lot of deep pockets already invested, I could see why some other companies are bold enough to pull the trigger and actually drop a lot of cash to bitcoin and crypto. For sure, these huge companies will do anything and everything to benefit largely from their crypto purchases, and would not allow bitcoin to really plunge down hard this time around.

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December 11, 2020, 05:50:26 AM
 #5

This time, we will be seeing more and more big institutions getting interested in crypto.
So the rise in the market is very different from the 2017 rise, which was driven more on hype without foundation.
A lot of new crypto users I believe, are now more educated when it comes to crypto investments.

I agree. These new players are probably looking up on a new ATH That might come. We'll I cant say that this end of the year bitcoin price will still be blooming as we all knew that holidays are coming ang people also probably needed cash for this.

But I'm not saying it would go done but will definitely create sideways and volatility. Next year is probably the exciting year to bitcoin and other major crypto and will trigger bull run. Big players realize it and if some also enter the game I'm not sure how far bitcoin will sky rocket.





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December 11, 2020, 06:06:54 AM
 #6

Seems like more and more institutions and organizations are jumping into the field. Maybe they realized how much power is in the cryptocurrencies. Well, I think governments could change their stance on strict regulations and will also become more open to crypto. Let's see what happens.
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December 11, 2020, 06:11:00 AM
 #7

This time, we will be seeing more and more big institutions getting interested in crypto.
So the rise in the market is very different from the 2017 rise, which was driven more on hype without foundation.
A lot of new crypto users I believe, are now more educated when it comes to crypto investments.

I agree. These new players are probably looking up on a new ATH That might come. We'll I cant say that this end of the year bitcoin price will still be blooming as we all knew that holidays are coming ang people also probably needed cash for this.
If they come to enter in this bullying market and looking for ATH then they truly believe that Bitcoin May go up more than that 20,000$ price,those Kind of investor won't risk their funds in something they don't have idea of gaining more than they invested.
So with this we have a nice view in the sooner days as the Bull might not end this year instead will continue into the next.
Quote
But I'm not saying it would go done but will definitely create sideways and volatility. Next year is probably the exciting year to bitcoin and other major crypto and will trigger bull run. Big players realize it and if some also enter the game I'm not sure how far bitcoin will sky rocket.
Going down is not an option to those investors because if they believe it will then they will surely wait that time and not now with the value almost the same on the Highest reached in the past.


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December 11, 2020, 06:20:36 AM
 #8

Going down is not an option to those investors because if they believe it will then they will surely wait that time and not now with the value almost the same on the Highest reached in the past.
We can never tell mate. But I also admire their patience when the value goes down. They will still be relax knowing their asset is beyond loss already. That's why we can compare a whale from an institutional thinker. Cause some whales definitely would not take the risk of losing more than half of their asset.

But its make sense to buy at a higher level and expecting a higher price than their orders. Hope they are not sway with the fud, cause literally some wanting btc to go down already since they already make a lot of profits and waiting for another entry point.





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December 11, 2020, 06:35:10 AM
 #9

Insurance companies are indeed institutional investors,however,this is a relatively small insurance company.
100M USD worth of Bitcoins isn't that much.I've never heard about MassMutual.Perhaps this is a also a good marketing move for this company,because more crypto enthusiasts will be aware about MassMutual and they will use the insurance products and services of this company in the future.
When we talk about institutional investors,I'm thinking about giant banks and hedge funds,that will buy billions USD worth of BTC.Unfortunately,we don't see such big investors joining the crypto world.




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December 11, 2020, 06:41:14 AM
 #10

If institutional players are getting in even at this price range. They probably know something that others don't. I have read some leaked documents from citibank predicting that btc will reach $315 in 2021, I am not sure how legit that is but looking at all these investors I think there may be some very good reason why they're openly revealing their investment. If true, we're at  the beginning stage of unstoppable bull run.

That's what I was thinking about as well. Bitcoin's price was showing a downward movement since last 2 -3 days and institutional investors are getting into Bitcoin market at this price level. They will either make out big or suffer like the common people similar to 2017. There's no denying that bitcoin investment is a risky proposition, but the corporates must have gine through a detailed technical analysis before taking such move! Let's just hope this time bitcoin doesn't take a nosedive like 2017 or early 2018! Because at the end of the day these corporates are holding people's money!

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December 11, 2020, 06:51:39 AM
 #11

They probably know something that others don't.
Not really, they are all seeing the historical performance of bitcoin and speculate repetition of the same patterns in the following year. The same thing that the rest of us also see and have predicted long before they even came in.
So they are getting in bitcoin now that price is just about to break out and before it is too late so that they will be able to ride the upcoming rise like what we had the entire 2017 to a much higher price.

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December 11, 2020, 07:09:37 AM
 #12

If institutional players are getting in even at this price range. They probably know something that others don't. I have read some leaked documents from citibank predicting that btc will reach $315 in 2021, I am not sure how legit that is but looking at all these investors I think there may be some very good reason why they're openly revealing their investment. If true, we're at  the beginning stage of unstoppable bull run.

It seems like you made a typo, so I actually Googled what you're talking about:

Pointing to a chart that shows three bitcoin bull runs over the last decade, the note suggests that the current rally could "potentially peak in December 2021, at the high of the channel, suggesting a move as high as $318,000 [per bitcoin]."

I would take this with a grain of salt though, considering the note was apparently addressed to institutional clients -- of course they'd want to hype it up. The wording also suggests that it's a ceiling price, which is probably only possible if all our best trends continue going until then.

Anyway, there were a lot of murmurs about institutional interest when Coinbase launched Coinbase Custody in the middle of the bear market (2018), and we're simply living it now. I think we all know there's no way to go but up at this point, so they don't really know any better than us.

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December 11, 2020, 08:02:34 AM
 #13

So, how much of btc is already owned by institutionals?
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December 11, 2020, 08:15:45 AM
 #14

If institutional players are getting in even at this price range. They probably know something that others don't. I have read some leaked documents from citibank predicting that btc will reach $315 in 2021, I am not sure how legit that is but looking at all these investors I think there may be some very good reason why they're openly revealing their investment. If true, we're at  the beginning stage of unstoppable bull run.
The price you are saying seems impossible to be reach upon but I think that with the volatility of the market, it will be a valid speculation. I think this investors are just showing off their investments just to advertise their company but who knows what is behind the curtains, the less I know the better. The entrance of the investors really does seem fishy but we can't do much about it but to keep alert and wait for what happens next. I hope that these investors joining the market is not an omen of a crash or something in that nature, fingers crossed.
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December 11, 2020, 08:19:47 AM
 #15

Institutional investors, family offices, wealth and asset management firms ..... are all coming for your hard earned coins. If you look at https://bitcointreasuries.org/ there are more than 850K BTC in the hands of publicly traded companies, private foundations and ETF-like funds. BTC are limited, so be careful, they want our coins too.
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December 11, 2020, 08:20:42 AM
 #16

If institutional players are getting in even at this price range. They probably know something that others don't. I have read some leaked documents from citibank predicting that btc will reach $315 in 2021, I am not sure how legit that is but looking at all these investors I think there may be some very good reason why they're openly revealing their investment. If true, we're at  the beginning stage of unstoppable bull run.
Nah, just like you and me, everyone is speculating as to what the price will be in the future. And since they don't what to missed the hype train, they purchased bitcoin in hope that it will dramatically grow in the future. Take note though that this is a billion dollar company, so $100 million is just a change for them. Not the huge gamble that everyone is hoping for, but at least money inside the bitcoin market is always good.

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December 11, 2020, 08:26:40 AM
 #17

So, how much of btc is already owned by institutionals?
Quote
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.

A total of 5,470 Bitcoin is owned by the institution.

This is actually a nice piece of information as the day passes, great companies adopt, invest and take the Bitcoin technology to the next phase of different economies of the world. 2021 seems to be a new ATH to witness.

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December 11, 2020, 09:33:08 AM
 #18

I am sure they can buy bitcoin at any price they want and they don't have to wait for the price to decrease or increase because they have a lot of money to buy bitcoin.
Maybe we will see many more big institutional will interest in bitcoin, and they will buy bitcoin in a large amount and hold it.
I think that can help bitcoin to reach mass adoption in the institutional.
I hope that can give impact the bitcoin price to increase again because that is what many people want Grin

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December 11, 2020, 09:54:43 AM
 #19

Perhaps the example of buying bitcoins by Microstrategy acts like a virus to other companies. Today's news about MassMutual proves more and more that many companies are finally realizing that going digital can be a very profitable investment.
Also, according to The Wall Street Journal, rising dollar inflation has become one of the reasons for buying bitcoins.

https://www.wsj.com/articles/massmutual-joins-the-bitcoin-club-with-100-million-purchase-11607626800





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December 11, 2020, 09:55:08 AM
 #20

When we talk about institutional investors,I'm thinking about giant banks and hedge funds,that will buy billions USD worth of BTC.Unfortunately,we don't see such big investors joining the crypto world.

Because no matter how bullish we are on Bitcoin, it still won't change the fact that bitcoin is still a speculative play. And unless a company or individual investor has like $100+ billion in cash, it would really be risky for them to put billions in to bitcoin.

Also take note: These big players are a lot less likely to take big risks compared to us retail investors. Most of them make investments just to counter inflation, not necessarily to make huge gains like us.

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