30 August 2026
Oldest Insurance Company MassMutual Invested $100 Million In Bitcoin
Leading life insurance company MassMutual has purchased $100 million in Bitcoin. The company believes that having a bitcoin position in its investment account will help the company deliver long-term value to its insurance policyholders.
As per the statement, the mutual insurer also gained a $5 million minority equity stake in NYDIG, a subsidiary of Stone Ridge that provides cryptocurrency services to institutions. NYDIG, known for keeping more than $2.3 billion in crypto assets for clients, will provide custody services for MassMutual’s Bitcoins.
MassMutual was established in 1851 and has become the latest company to invest in the largest cryptocurrency. There are growing institutions that have invested in bitcoin such as MicroStrategy and Square. Both the companies have poured a huge amount into cryptocurrency.
MassMutual said the investment in Bitcoin will represent 0.04% of the general investment account of nearly $235 billion as of Sept. 30. spokeswoman Chelsea Haraty said in an email, “We see this initial investment as a first step, and like any investment, may explore future opportunities.”
This year saw bitcoin price becoming double and it also hit an all-time high earlier this month. Advocates believe that Bitcoin is a kind of digital gold, likely to retain its value during times of turmoil and as a hedge against inflation despite the historical volatility of the cryptocurrency.
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