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Massachusetts-Based Insurance Firm Makes $100 Million Bitcoin Investment

Emily Mason

Summary: A Massachusetts-based insurance firm has purchased $100 million worth of Bitcoin for its general insurance account, as reporter by The Wall Street Journal.  MassMutual, a non-publicly traded firm, manages insurance accounts exceeding $235 billion. The firm purchased the Bitcoin through a New York based company called NYDIG, which offers cryptocurrency and custody services. The firm also acquired ...

A Massachusetts-based insurance firm has purchased $100 million worth of Bitcoin for its general insurance account, as reporter by The Wall Street Journal. 

MassMutual, a non-publicly traded firm, manages insurance accounts exceeding $235 billion. The firm purchased the Bitcoin through a New York based company called NYDIG, which offers cryptocurrency and custody services. The firm also acquired a $5 million stake in NYDIG. 

The insurance company told The Wall Street Journal that the investment was part of an strategy to take advantage of new opportunities while remaining diversified in an increasingly digital world.

By Emily Mason

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