Insurance company MassMutual has invested $100 million in bitcoins

The American company Massachusetts Mutual Life Insurance has invested $100 million in bitcoins to diversify its portfolio of assets.

According to the management of the 169-year-old insurance institution, it was a balanced and significant step in the direction of the growing economic influence of the digital world.

According to The Wall Street Journal, the cryptocurrency purchase was made through the investment company New York Digital Investments Group.In addition to BTC, MassMutual also acquired a stake in NYDIG for $5 million.

Despite the impressive size of investments in bitcoins, for the insurance company they are only a drop$235 billion, which is now under its management.

Although this is not the first institutional institution to invest millions of dollars in digital assets, the parallel purchase of a crypto-fund share showsabout MassMutual's desire to build the infrastructure for full integration into the digital finance industry.

As institutional investors have been increasingly giving preference to bitcoins rather than precious metals in recent years, JPMorgan analysts predict that this trend will lead to a long-term trend.to the structural redistribution of value between these assets and will have an incredible impact on the price of gold.

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