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MassMutual purchased the bitcoin through a New York-based portfolio company NYDIG, which has about $2.3b of bitcoin and other cryptocurrencies under management. MassMutual also acquired a $5m minority equity stake in NYDIG, which was formerly known as New York Digital Investment Group.
The insurance company, founded in 1851, said the bitcoin investment was based on a broad strategy to take advantage of new opportunities while remaining diversified, “giving us measured yet meaningful exposure to a growing economic aspect of our increasingly digital world.”
https://www.wsj.com/articles/massmutual-joins-the-bitcoin-club-with-100-million-purchase-11607626800
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