Capital Group has turned a $1 billion bet on Bitcoin treasury stocks into $6 billion, with major holdings in Strategy and Metaplanet.
Capital Group, a 94-year-old mutual fund powerhouse known for its conservative investment approach, has grown a $1 billion position in Bitcoin-related stocks into more than $6 billion.
Mark Casey, a portfolio manager with 25 years at Capital Group, led the firm’s move into Bitcoin. Casey, who describes his investment style as shaped by Benjamin Graham and Warren Buffett, has become an advocate for Bitcoin (BTC), according to a Sunday report by The Wall Street Journal.
“I just love Bitcoin, I just think it is so interesting,” Casey said during a podcast interview with venture firm Andreessen Horowitz. He called Bitcoin “one of the coolest things that has ever been created by people,” per the WSJ report.
