According to PANews, insurance giant MassMutual's investment in Bitcoin has seen substantial growth over the past four years. The company, formally known as Massachusetts Mutual Life Insurance Company, purchased over 5,000 Bitcoins, which have now increased in value fivefold, reaching an estimated market value of approximately $500 million.
MassMutual, headquartered in Springfield, Massachusetts, is a renowned provider of life insurance and financial services. Established in 1851, the company has grown to become one of the largest life insurance firms in the United States. It ranks 100th on the Fortune 500 list, with reported revenues of $10.7 billion and total assets under management amounting to $312 billion as of 2022.