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.
| less than a minute read
MassMutual joins the bitcoin club with $100m purchase
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.”
