Mass Mutual invests in Bitcoin

[marindependent]

169-Year-Old MassMutual Invests $100 Million in Bitcoin

Massachusetts Mutual Life Insurance Co. has purchased $100 million in Bitcoin for its general investment fund, the latest mainstream firm to dabble in digit assets.

The mutual insurer also acquired a $5 million minority equity stake in NYDIG, a subsidiary of Stone Ridge that provides cryptocurrency services to institutions, according to a statement. NYDIG, which already keeps more than $2.3 billion in crypto assets for clients, will provide custody services for MassMutual’s Bitcoins.

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[noah89]

I wonder how this thread is dead because the topic is very relevant in our days. Bitcoin is a cryptocurrency with a very big perspective and I think it will break the 100000 dollars margin soon or by the end of this season, so no wonder that a lot of big companies invest in it and a lot of other coins. I started investing in cryptocurrencies recently too, and I think that it is a very good long term investment. A good friend of mine recommended using crypto signals for the beginning, he uses them himself and makes pretty good money off it, so I think that I will do that too. What do you guys think about it?

 

[Tahoe Ray]

I think it will break the 100000 dollars margin soon or by the end of this season,

From your words to my wallet, I sure hope that happens.

 

[Travis Price]

I don't invest in unregulated currency that really hasn't found its place in the world yet as a mainstream use.

Theres a place for speculation. It's just not for me at this time.

 

[walthamny]

Now if their dividend starts to fluctuate closely with the price movement of Bitcoin, that would be interesting. There is an interesting accounting point. When bitcoin goes up, the rise in value is not recognized on the balance sheet. IT is not earnings until it is sold. Its considered cash equivalent. However, if the Bitcoin price goes below the purchase price then the loss is recognized. The rules for their investment in NYDIG is different. It is private equity so any increase or decrease in market value would be reflected on the balance sheet. So now when you receive the annual letter stating our dividend remains strong, you are going to have to wonder how your mutual life insurer made money to pay your dividend.

 

[Tahoe Ray]

unregulated currency

That's the whole point.

 

[Travis Price]

That's the whole point.

Which is why it's purely speculative and not something I would call investing or an investment that'd be for me currently.

Like I said, unregulated and rife with scams and fraud. It's just not for me.

 

[Tahoe Ray]

unregulated and rife with scams and fraud.

No different than you giving your money to that Nigerian prince but you do you.

 

[DayTimer]

No different than you giving your money to that Nigerian prince but you do you.

Have you heard from Prince Adebamgbe? There was a problem with the deposit and I sent him his change. But I never heard back from him after I sent the wire.

 

[Tahoe Ray]

But I never heard back from him after I sent the wire.

Dunno...internet is slow these days. It's probably bouncing around off some satellites. I'm sure you'll get it soon.