MassMutual Puts $100M in Bitcoin
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Dec. 10, 2020

Massachusetts Mutual Life Insurance Co., one of the largest United States corporations by total revenue, has put $100 million in bitcoin (EXANTE: Bitcoin) for its general investment account, the Wall Street Journal reports.

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The company says the investment was based on a big strategy to "take advantage of new opportunities" with diversified portfolio. MassMutual claims bitcoin is giving the company "measured yet meaningful exposure to a growing economic aspect of our increasingly digital world."

Founded in 1851, MassMutual offers services related to life insurance, retirement, and investments plans. Last year, MassMutual reported total sales through its US insurance and retirement operations of $28.6 billion.

Square Purchases 4709 BTC for $50M

Meanwhile, the other big player on the crypto market, MicroStrategy Inc., wants to offer up to $550 million (initially the company reported $400 million) of convertible bonds to buy more BTCs.

The company plans to invest the proceeds from the offering in BTC "pending the identification of working capital needs." Fundraising will be carried out as part of a private placement for qualified institutional investors only with repayment period until December 15, 2025.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

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