JP Morgan Sees MassMutual’s Bitcoin Foray as a Signal for Better Demand
Last Updated: 14 December 2020
The demand for Bitcoin is rising among institutional investors like pension funds and insurance firms. The latest move by MassMutual into crypto is being highlighted as a signal for better demand according to JP Morgan.
JP Morgan talks Bitcoin
JP Morgan Chase & Co. the Wall Street banking giant suggests that the recent $100 million Bitcoin purchase of Bitcoin by Massachusetts Mutual Life Insurance Co. underscores an increasing demand for cryptocurrencies among institutional investors.
In a Friday note, strategists from the lender including Nikolaos Panigirtzoglou said that wealthier investors, family offices, and institutional entities like pension funds and insurance firms are now eyeing Bitcoin investments. While both insurance firms and pension funds are not expected to make huge allocations to cryptocurrencies, even a small investment by them suggests
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