"A Massachusetts-based insurance firm has bought $100 million worth of bitcoin for its general insurance account, according to The Wall Street Journal."

[VanGogh]

The institutions are certainly coming!

https://www.theblockcrypto.com/linked/87378/massmutual-bitcoin-insurance-purchase

Credit to IAMLegion @Paisan26849860

 

[Julian_Williams]

It seems institutional money is at last arriving in crypto.  If it becomes the norm for investment companies to take a stake in crypto they will dominate the markets and smoother the whale activity, the markets will stabilise and not retrace as far as they did after the last bull run.  Institutions are also unlikely to be very adventurous, choosing mostly to invest in top five or ten crypto, which will disproportionately benefit XRP.

[SquaryBone]

I'm not surprised. Now all of a sudden a lot of companies/... will come out of the woodwork telling how great bitcoin is and that they have bought in.

[SquaryBone]

5 hours ago, Julian_Williams said:

Institutions are also unlikely to be very adventurous, choosing mostly to invest in top five or ten crypto, which will disproportionately benefit XRP

I indeed don't see them as the huge risktakers. XRP might benefit. They have bought BTC, not XRP though. It seems possible they might buy XRP in a later stage. I'm not clear how this would be disproportional. It's more likely that they get a MC based weighted exposure. So if XRP is 10% MC of the first 5 or 10 cryptos combined (I don't even think they'll go to the first 10) 10% of their portfolio would be XRP.