george soros bitcoin, morgan stanley, new york life, nydig, soros, soros bitcoin, soros fund

Soros Fund Management, New York Life, and Morgan Stanley have joined Stone Ridge Holdings, Massmutual, FS Investments, and Bessemer Venture Partners to invest in bitcoin-focused investment company NYDIG. They will collaborate on a range of bitcoin-related strategic initiatives, and expect to launch “an explosion of innovation in bitcoin products and services.â€

Major Companies Want Bitcoin Exposure

Major corporations and investment heavyweights have invested in the New York Digital Investment Group (NYDIG), a provider of technology and investment solutions for bitcoin, the group announced Monday. According to the announcement:

In addition, Bessemer Venture Partners and Fintech Collective, which led the two prior funding rounds for NYDIG, were also significant participants.

Soros Fund Management is chaired by George Soros, one of history’s more successful financiers. New York Life Insurance Company is the third-largest life insurance company in the U.S. and the largest mutual life insurance company in the country.

Robert Gutmann, the CEO of NYDIG, explained that “The firms participating in this round are more than investors – they are partners, each well known to us for years.†He elaborated:

He added that “In the months and quarters ahead,†NYDIG is expected to announce “an explosion of innovation in bitcoin products and services†in partnership with the new investors.

Emphasizing the “accelerating institutional bitcoin adoption,†the group further announced Monday:

NYDIG is part of Stone Ridge Asset Management, which recently filed with the U.S. Securities and Exchange Commission (SEC) for one of its open-end mutual funds to invest in bitcoin. Stone Ridge founder who also founded NYDIG, Ross Stevens, said in February that “you’re just going to see a wall of money†coming into bitcoin.

What do you think about investment heavyweights investing in the bitcoin firm? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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