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Vandana Malik
Dec 14, 2020
by Vandana Malik

MassMutual’s Bitcoin Investment To Widen Demand, Says JPMorgan

MassMutual’s Bitcoin Investment
Massachusetts Mutual Life Insurance Co., also known as MassMutual has recently invested a huge amount in Bitcoin. JPMorgan Chase & Co. believes that this investment in Bitcoin is having a huge potential to increase the institutional demand for crypto in the next few years. The firm claims that MassMutual’s Bitcoin Investment is meant to increase Bitcoin adoption to a very great extent. Different insurance firms have also started realizing the potential of Bitcoin which will again lead to a wider Bitcoin adoption. 

MassMutual’s Bitcoin Investment Represents Adoption by Institutional Investors

According to the market strategists, the recent MassMutual’s Bitcoin investment could be seen as a huge milestone for Bitcoin. This is driving Bitcoin adoption by institutional investors. They stated that in the coming years, there will be a huge demand from institutional investors. The insurance firms and pension funds are going to increase Bitcoin adoption to a great extent in the near future. 

From the past few weeks, it has been seen that different cryptocurrency, especially Bitcoin, has been performing really well. Currently, it is eyeing to reach the $20,000 level and analysts are quite bullish regarding this. A lot of analysts believe that the reason behind gaining such huge recognition is the weakness of the dollar at the moment. The dollar is facing a quite tough time because the United States has been hit very badly by the COVID-19 pandemic. Amid this, China is also eyeing to reduce the dominance of the dollar by introducing Digital Yuan. 

Traditional Investors Faces Hurdles While Investing in Crypto

The strategists have claimed that if the insurance companies and the pension funds will be able to allocate only 1% of their assets to Bitcoin, the additional Bitcoin demand will reach $600 billion. Currently, the total market cap of cryptocurrency is around $356 billion. However, there are several concerns with traditional investors as they are going to face many hurdles while investing in crypto. 

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MassMutual’s Bitcoin Investment To Widen Demand, Says JPMorgan
Vandana Malik
Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

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