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Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin

Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin

FromThe Breakdown


Why a Massive 169-Year-Old Insurance Company Just Bought $100M in Bitcoin

FromThe Breakdown

ratings:
Length:
15 minutes
Released:
Dec 12, 2020
Format:
Podcast episode

Description

Today on the Brief: FDA panel recommends Pfizer vaccine approval as initial jobless claims soar Antitrust lawsuit calls for Facebook breakup Crypto-friendly CFTC chairman to resign at the beginning of the year Our main discussion: Why MassMutual bought $100 million in bitcoin and why it matters. In this episode, NLW looks at recent news that MassMutual had purchased $100 million in bitcoin for its general account, as well as made a $5 million minority investment in $2.3 billion asset manager NYDIG, which helped facilitate the bitcoin purchase. He discusses why insurance company purchases are different than other institutional buyers like MicroStrategy, and why this might be the beginning of a more significant industry trend.
Released:
Dec 12, 2020
Format:
Podcast episode

Titles in the series (100)

A daily analysis of macroeconomics, bitcoin, geopolitics and big picture power shifts, hosted by Nathaniel Whittemore @nlw. The Breakdown is part of The Breakdown Network.