JPMorgan Suggests MassMutual's BTC Investment Could Trigger Much More Inflow
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According to Bloomberg, JPMorgan suggested in a note on Friday that MassMutual's $100mm investment in BTC for their general account significantly derisks BTC holdings in the eyes of other typically-conservative institutional money managers:
"MassMutual’s Bitcoin purchases represent another milestone in the Bitcoin adoption by institutional investors," the strategists said. "One can see the potential demand that could arise over the coming years as other insurance companies and pension funds follow MassMutual’s example."
If pension funds and insurance companies in the U.S., euro area, U.K. and Japan allocate 1% of assets to Bitcoin, that would result in additional Bitcoin demand of $600 billion, the strategists said.
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