MassMutual buys BTC

[cryptovlek 2597]

Massmutual is the third company listed in the NY stock exchange  (after Microstrategy and Square) that bought Bitcoin at an astonishing $100 million.

The purchace was made from NYDIG that is a digital asset fund management that manages more than $2 billion in cryptocurrency assets for investors.

 

Massmutual (or Massachusetts Mutual Life Insurance Company) is a life insurance company, one of the oldest in the USA founded in 1851 that controls assets worth of $675 billion.

Bitcoin might be dropping bellow $ 18,000 lately but this doesn't mean that there is no buyers, it is expected that more companies will follow this trend.

 

The Wall Street Journal magazine covered this report here: https://www.wsj.com/articles/massmutual-joins-the-bitcoin-club-with-100-million-purchase-11607626800

 

[kryptonick 2659]

Another one! This is very good news. I was wondering who will be the third one, I didn't know this Massmutual but they will probably follow the path of Microstrategy into success and more will come.

 

I made this post yesterday about the companies that own Bitcoin and today another one joined the club! How can we not be bullish on BTC?

https://cryptotalk.org/topic/331200-bitcoin-treasuries/

 

 

Edited December 11, 2020 by kryptonick

[Mella 3680]

$100 million this is huge. I am thanks for this news that it is give us more to think especially to those that are want price to drop. I am think this is a price many are buy and even today we are see price rise again and all the good news that come will help to be at 20000 soon.

[bogdanoff 3173]

There will be even more, maybe so many that it will be not in the headlines but in lower articles as hundreds will start buying Bitcoin because of the high liquidity and the opportunity they see in Bitcoin. There will also be rise in altcoins at some time but this is secondary now. I expect the price to keep rising as these news keep coming.

[kyoukage01 3181]

When exactly did MassMutual bought those BTCs? Surely not during this bullrun where BTC is expensive now. If the company already bought BTC a long time ago, then surely it would have meant that they have already researched everything about cryptocurrencies before investing heavily on it. A display of how serious they are about cryptocurrencies would have had exerted significant influence on other companies who also wants to invest.

 

Alas, the website requires signing up to view the article in full, and I don't want to do that. @cryptovlek, do you have access to the full news?

 

[cryptovlek 2597]

12 hours ago, kyoukage01 said:

When exactly did MassMutual bought those BTCs? Surely not during this bullrun where BTC is expensive now. If the company already bought BTC a long time ago,

This information was in all the crypto news for some days:

https://beincrypto.com/massachusetts-mutual-invests-100-million-in-bitcoin-through-nydig/

https://www.coindesk.com/massmutual-buys-100m-bitcoin-bets-on-institutional-adoption-with-5m-nydig-stake

 

Today the bank JPMorgan has used this purchace in a new bullish report:

https://cointelegraph.com/news/massmutual-bitcoin-purchase-proves-crypto-demand-is-rising-jpmorgan-says

 

As it stands there is no details on the price they bought yet but the reports give some clues that it was a recent one.

Edited December 14, 2020 by cryptovlek

[Mahmod aljarah 1383]

Assets purchased at a large value will not mean a decrease in the value of Bitcoin, but on the contrary, when the demand for the currency increases, its price will increase in relation to others.
This news is good and bodes well.

[Abdul1168782 572]

This is really good and this shows that the businessman are also showing interest with crypto world. And by this this field also groom and this is a huge amount. And a good time to crypto trader and investor.

[Syedbesharat 5423]

A hundred million adoption of BTC is a good news thus will increase the price of BTC and attract more companies in crypto. The company have old history and make great move. They have think about the future of the company and started investing in crypto currency. The BTC cap will increases and the price will go more upward. Although the price is decreases time to time but BTC fought back and make move toward Bull run. 

[progma 326]

more and more we still see this news buzzing on the aspect of bitcoin being incorporated in different sectors of business as basically buying that amount of bitcoin can as well propel some sort of a boost of morale on other business or companies who might want to take part in the bitcoin growth as an asset in the financial markets

[Abuhassan 89]

On 12/11/2020 at 8:29 AM, cryptovlek said:

Massmutual is the third company listed in the NY stock exchange  (after Microstrategy and Square) that bought Bitcoin at an astonishing $100 million.

The purchace was made from NYDIG that is a digital asset fund management that manages more than $2 billion in cryptocurrency assets for investors.

 

Massmutual (or Massachusetts Mutual Life Insurance Company) is a life insurance company, one of the oldest in the USA founded in 1851 that controls assets worth of $675 billion.

Bitcoin might be dropping bellow $ 18,000 lately but this doesn't mean that there is no buyers, it is expected that more companies will follow this trend.

 

The Wall Street Journal magazine covered this report here: https://www.wsj.com/articles/massmutual-joins-the-bitcoin-club-with-100-million-purchase-11607626800

 

More companies have started to invest in Bitcoin this days I guessed the companies that invested early will harness it benefit than the companies that will invest later on so any company that want to grow rapidly in the future needs to invest into crypto currency 

[sabiqalrayan 482]

Dear friend I think bitcoin supply small and demand high. Bitcoin is a best cryptocurrency in the world and so many company invest bitcoin because bitcoin future is bright and profit his investment. So many company analysis market and decide bitcoin invest. Bitcoin next year 2021 price prediction 25k. I think that reason these company invest bitcoin.

[annayks 2314]

The heard is coming. This time it is not just retail investors but the big ones. The ones that control the money that can change everything and make Bitcoin from something that was an outcast until two years ago, to be the dominant asset, one that will be in the news every day and its price will be discussed by people that are clueless today but will be their job later.

[yonkii 3205]

I didn't know this name but read about it and it is a big company in the life insurance sector. I expect even more to join the party! We are on the rise again after this news and there are thousands of companies like MassMutual that will start entering the Bitcoin investment from now on.

[pablomarwan 3082]

The company aspires to enter the world of cryptography strongly. This imaginary number contributed to raising the coin. Many companies and financial institutions have begun to take digital currencies seriously. This is an opportunity that if they miss it, they may not benefit from it until after a while, because there is more and more to come.

[Froshk 1828]

We have seen a sudden surge in the price of bitcoin last week but these week has totally change the course and history has been re-written, could these be due to the fact that these company actually invested heavily on the asset? @cryptovlek

[Fixfin 2569]

With all these news that appear from all fronts about Bitcoin, how can someone not be bullish as this is the time we were waiting for and all the previous times we didn't have a bull run. This is one bull run that Bitcoin is used to give to us from time to time and after so much time of pain we still don't believe this.

[cryptovlek 2597]

3 hours ago, Froshk said:

We have seen a sudden surge in the price of bitcoin last week but these week has totally change the course and history has been re-written, could these be due to the fact that these company actually invested heavily on the asset? @cryptovlek

I don't know what to say, I was very bullish all this time making posts and telling everyone that it is a mistake to sell and that there was accumulation at 19k but I didn't expect price to reach 19k, this must be many companies buying or even Central Banks.

[Amiami 1362]

A couple of days ago I read an article where both Wells Fargo and BOFA were talking about the surprise integration of MassMutual into the cryptocurrency market, it was a somewhat critical position but they highlighted the fact that more and more institutions, companies and organizations of high caliber are betting on Bitcoin and its peers, something similar to FOMO but within companies, since everyone wants their part of the business.

[entrepreneur 634]

This is great for us workers, because it means that the demand will be the same, but the supply will get smaller and smaller, causing the price to pump

[Michar1 1693]

If it is a large company and not only because it is listed on the stock market, but also because of the amounts of money they have invested in bitcoin, and that is also what helps the price of btc continue to rise.

[percare 3192]

This was downplayed and wasn't in the news a lot. It happened that many more may have bought bitcoin but they didn't announce it officially. Bitcoin is gaining momentum and price is gaining daily, becoming an established asset in the terms of being digital gold as investors now are not just individuals but corporations and institutions.

[Dorjoy12 8962]

2 hours ago, percare said:

This was downplayed and wasn't in the news a lot. It happened that many more may have bought bitcoin but they didn't announce it officially. Bitcoin is gaining momentum and price is gaining daily, becoming an established asset in the terms of being digital gold as investors now are not just individuals but corporations and institutions.

 @percare maybe this is get announced  just for make ads of the Insurance  company  name NYDIG founded around 1851 based on usa area..  I heard that this insurance now having almost $2.5 billion value bitcoin as well another  crypto currrency ... Its just my imagination  but another  reason can be behind it.. 

[Dorjoy12 8962]

10 hours ago, Gamma said:

@Dorjoy12 it could be possible but we should think of it as black and white situation. It would be better if we stuck to real reports and observations. But I still get tour point though!

 I think  its not necessary  for us to keep this news so carefully Because  you know micro strategy  company  bought btc few days ago more than 25k usd on btc ath price  which was the record ever..  So if we take this news like microstrategy  then nothing  is wrong  @Gamma

[tienda 8776]

I think there are many companies on the way to adopt cryptocurrency, and the high record of the year 2020, never happened before! This is the main reason why is possible the cryptocurrency on the way to be adopted by many companies, institution and government.