Celebrity billionaire: the biggest Bitcoin news of 2020 has arrived!
Life insurance giant Massachusetts Mutual Life Insurance (MassMutual) is investing heavily in Bitcoin. The major insurance company is taking a minority stake in Bitcoin Enterprise Investment Solutions Company Nydig. Galaxy Digital CEO Mike Novogratz said MassMutual’s investments could be the biggest Bitcoin news of 2020.
Mike Novogratz: MassMutual’s investments are the biggest Bitcoin news of 2020!
Major insurance company Massachusetts Mutual Life Insurance has bought $ 100 million worth of Bitcoin, Wall Street reported. The purchase was made through NYDIG, a New York-based fund management company with about $ 2.3 billion worth of Bitcoin and cryptocurrencies under its management. In addition, Massachusetts Mutual Life Insurance also received $ 5 million in shares in Nydig.
Bitcoin bull and Galaxy Digital CEO Mike Novogratz told his 156,000 Twitter followers that MassMutual’s investments could be the biggest Bitcoin news of 2020 in a year when corporate adoption of Bitcoin is growing. Tim Corbett, chief investment officer at MassMutual, believes investments are a crucial part of the firm’s portfolio. Also, Tim Corbett says that adding Bitcoin to their portfolio “will help MassMutual deliver long-term value to policy holders.”
Ross Stevens: MassMutual’s investment will inspire Bitcoin community
Tim Corbett says the company looks forward to looking for other diverse and innovative ways to add value to its members. Nydig founder Ross Stevens also has a positive view of the deal. Ross Stevens predicts that MassMutual’s investment will greatly inspire the Bitcoin community and support the top cryptocurrency as it continues to contend with institutional investors. Ross Stevens says on the topic:
BITCOIN IS SOLID MONEY AND THE CORNERSTONE OF OUR PRACTICE, WHICH CANNOT BE ASYMPTOTICALLY PRINTED WITH AN UNBOUND RISK PREMIUM. I COULDN’T IMAGINE WORKING WITH A BETTER COMPANY THAN MASSMUTUAL TO HELP NYDIG SUPPORT THE NEXT LEG OF BITCOIN’S JOURNEY. ITS CONTINUED FOCUS ON PROVIDING SAFETY, SECURITY AND RESPONSIBLE INNOVATION TO POLICY HOLDERS AND THEIR FAMILIES… THIS DEVELOPMENT WILL INSPIRE THE BITCOIN AND CRYPTOCURRENCY COMMUNITY.