MassMutual’s $100M BTC investment has the potential to open a massive new investment category, according to analysts.
Today on the Brief:
- First COVID-19 vaccines roll out in the U.S.
- Are IPOs the new ICOs?
- U.S. Treasury and other federal departments hacked
Our main discussion: A massive new category of bitcoin demand?
Last week, when MassMutual announced its $100 million buy, NLW explored whether it would be the beginning of a trend for other insurance companies. A recent note from JPMorgan analysts suggests that even a 1% allocation by that category of company in major markets in the U.S., Europe and Japan could represent $600 billion of new demand.
NLW also discusses recent comments from long-term institutional bitcoin and crypto bulls including Chamath Palihapitiya and Abigail Johnson.