Well-known American manager Maurice "Hank" Greenberg supported the crypto investment company New York Digital Investment Group (NYDIG)during the latest $100 million round of fundraising.
NYDIG revealed the details of the investment round today, just a month after raising the previous $200 million. Investors in the last stage were insurance companies Starr Insurance and Liberty Mutual Insurance.
Greenberg, 95, who heads Starr Insurance, said: "We have invested extensively and successfully with [NYDIG parent company Stone Ridge and its CEO Ross Stevens] in their various initiatives, including as a primary NYDIG investor since 2017. We are happy to continue the tradition of joint investments."
Greenberg is best known as the former chairman and CEO of American International Group (AIG), the 18th largest publicly traded company in the world, and the largest insurance and financial services corporation in history. After Greenberg's departure, AIG was at the center of the 2008 financial crisis, when the Federal Reserve was forced to allocate more than $180 billion to save the corporation.
Stevens, commenting on the firm's success during the last round, noted that the decline in the purchasing power of fiat currencies makes bitcoin a promising option for " billions dependent on the insurance industry every year." "We will continue to work tirelessly to create bitcoin-denominated products for insured individuals around the world," he added.
Earlier, Stevens announced that his company expects to concentrate $25 billion of its clients ' assets in bitcoin by the end of this year.