One Bitcoin deal worth $ 100 million

An analysis of strategists at investment bank JP Morgan expects that the demand for a cryptocurrency Bitcoin will increase, after completing a $ 100 million Bitcoin purchase by Massachusetts Insurance Which is one of the largest insurance companies in America.

According to Arabiyanet, GBMorgan strategists pointed out in a note to investors on December 11 that Bitcoin's adoption is now expanding from family offices and wealthy investors to larger investors such as Insurance companies and pension funds.

experts said that insurance companies and pension funds are unlikely to invest large sums in Bitcoin, but any small shift towards cryptocurrencies could be significant. >

If pension funds and insurers in the United States, the Eurozone, the United Kingdom, and Japan allocate only 1% of their assets to Bitcoin, the demand for digital currency will grow by an additional $ 600 billion, according to the strategists' calculations.

This is nearly twice the market value of Bitcoin, which is $ 356 billion, according to CoinMarketCap data.

The Massachusetts-based insurer, Massachusetts, announced on December 11 that it had bought Bitcoin worth $ 100 million for the public investment account.

Massachusetts Insurance has told Cointelegraph that the investment is part of a broad strategy aimed at achieving calculated but meaningful exposure to the growing economic aspect of our digital world.

The entry of Massachusetts Insurance into the Bitcoin world comes at a time when MicroStrategy the main institutional player plans to offer $ 400 million in securities to invest in Bitcoin.

MicroStrategy adopted Bitcoin as its primary asset after purchasing $ 425 million worth of cryptocurrency in August and September.