Dec 10, · NEW YORK, Dec. 10, /PRNewswire/ -- NYDIG, a leading provider of institutional investment and technology solutions for Bitcoin, announced today that Massachusetts Mutual Life Insurance Company. Dec 21, · MassMutual bought $ million in bitcoin, according to a Wall Street Journal report on Dec. Although it is a sliver of the $ billion that the insurance giant held in investments as of Sept. Dec 11, · Advocates say that Bitcoin is a kind of digital gold, likely to retain its value during times of turmoil and as a hedge against inflation despite the historical volatility of the cryptocurrency.
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Ross acknowledged the confusion that would go through the mind of an advisor new to bitcoin. Is it a store of value? Is it a currency? Is it money? These are the things that advisors need to question.
And they should ask those questions now, because advisors might be surprised by which clients start asking about them, Ross said. And when they do, that should cause advisors to take note. Jones, we said your risk tolerance was a three.
Let's talk about this. At that point, Ross said, an advisor would be wise to review risk and the portfolio. If clients have the extra money and want better gain, they are probably already wondering about crypto. Where am I going to get yield in my portfolio?
You probably should listen. All right. Let me get smart on this. So I can only look like a dummy in front of my clients. Larry J. Rybka, CEO of Valmark Financial Group, acknowledged that clients have been asking his advisors about crypto, but it is still too early for advisors to dive into the space. The crypto world is still unruly and volatile — conditions that draw compliance and ethical concerns.
Rybka said at this point, if clients want to put money into digital assets, advisors can treat it like any other side venture in which the client might want to indulge. Rybka compared it to clients wanting gold. They'll ship it to you in a secret box, and if you want to put that in your safe and do that, that's up to you.
I'm not going to try and talk you out of that. But I only would have tremendous downside by being involved with that. We're not regulated to do things like that.
As he launches and tests the platform, Ross expects that the next breakthrough in acceptance will a big RIA making a splash. It'll be interesting to see if that if that turns out. And based on the demand that I'm seeing, I don't think I'm too far off there. It is still going be a long while before RIAs generally will be comfortable with bitcoin, but Ross said the pressure will be increasing.
Stevens continued, "Since at Stone Ridge, and since at NYDIG, we have been quietly building our portfolio of business arks ahead of the no-yield flood, which is now in the early innings of submerging the world. Bitcoin — asymptotically unprintable sound money with an uncorrelated risk premium — is a cornerstone of our practice. Their enduring focus on delivering safety, security, and responsible innovation to their policyowners and their families has long inspired all of us at Stone Ridge and NYDIG, and, I believe, now will inspire the broader Bitcoin community.
Contact Tamani Jayasinghe Edelman tamani. The firm and its subsidiaries provide institutional investment, brokerage, treasury, and technology solutions to institutions, banks, and private clients, including insured custody, execution, asset management, financing, and research. For more information, visit www. About MassMutual MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners.