PANews reported on December 11 that according to information forwarded by Bitcoin Magazine, insurance giant MassMutual purchased more than 5,000 bitcoins four years ago . The investment at that time has now increased fivefold, with a market value of approximately US$500 million.
MassMutual, formally known as Massachusetts Mutual Life Insurance Company, is a well-known provider of life insurance and financial services headquartered in Springfield, Massachusetts. Founded in 1851, MassMutual has grown to become one of the largest life insurance companies in the United States, ranking 100th on the Fortune 500 list, with revenues of $10.7 billion and total assets under management of $312 billion as of 2022.
