[2020-12-12] US Insurance Giant with $28.6 Billion in Revenue Buys $100 Million

[50 Cent]

The Massachusetts Mutual Life Insurance Company–a 169-year-old insurance firm that generated $28.6 billion in revenue in 2019, has bought $100 million of Bitcoin from its general investment account, the Wall Street Journal reported on Dec 11
n endorsement of Bitcoin, MassMutual joins other public companies, including MicroStrategy and Square, that have invested a significant amount of money in the digital asset.

The insurance firm only invested $100 million from the otherwise $239 billion it has on its general investment account. It could be an insignificant amount but goes on to demonstrate that Bitcoin is maturing and is safe. It is a diversion from previous interpretations where Bitcoin viewed as a money-laundering tool.
MassMutual has also invested $5 million in the fund manager for a minority stake. While not mentioning any names, the CEO of NYDIG also said other insurance companies have been buying Bitcoin from their general accounts.

The CEO of River Financial–Alexander Leishman, took to Twitter saying the entry of the insurance giant is the “biggest stamp of approval yet.”

“By investing in Bitcoin, MassMutual has effectively signaled that Bitcoin is considered safe and liquid enough for the largest, most conservative institutions in the world to make an allocation.”


Source: https://btcmanager.com/us-insurance-28-6-billion-100-million-bitcoin/?utm_source=onesignal&utm_medium=push&utm_campaign=push%notification

WHAT NEXT???

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[acquafredda]

This is actually a massive positive news which signals an avalanche that will keep rolling as more and more mutuals will come onboard.
(I only hope that having being involved in the Madoff Investment Scandal will not be used in conjunction with this news. For bitcoin detractors there is always some ground to be found, you know.)

[50 Cent]

This is actually a massive positive news which signals an avalanche that will keep rolling as more and more mutuals will come onboard.
(I only hope that having being involved in the Madoff Investment Scandal will not be used in conjunction with this news. For bitcoin detractors there is always some ground to be found, you know.)

more whale's will coming. covid-19 make some positive effect for digital payment, and we will see btc on the top.