Led by Nikolaos Panigirtzoglou, the team at JPMorgan is taking note of MassMutual's $100M investment in Bitcoin (BTC-USD), saying adoption is spreading from family offices and wealthy iconoclast investors to insurance companies and pension plans.The distinction is an important one: The former can just buy when they see something interesting, whereas new investments for the latter must pass muster with various committee(s) and teams of lawyers.JPMorgan: "MassMutual’s Bitcoin purchases represent another milestone in the Bitcoin adoption by institutional investors ... One can see the potential demand that could arise over the coming years as other insurance companies and pension funds follow MassMutual’s example."Panigirtzoglou and team figure that if pension plans and insurance companies in the U.S., EU, U.K. and Japan put 1% of assets in crypto, that would mean $600B in investment. That compares to Bitcoin's current market cap of $356B.Bitcoin rallied over the weekend, making another challenge to top
