Capital Group, the 94-year-old investment powerhouse managing more than $3 trillion, has turned its cautious Bitcoin exposure into a $6.2 billion portfolio. According to The Wall Street Journal, portfolio manager Mark Casey convinced the firm to invest in 2021, starting with a $500 million stake in Strategy (formerly MicroStrategy). Since then, Capital Group has expanded into holdings in Japan’s Metaplanet and mining firm MARA Holdings.
Despite trimming and dilution, Strategy’s stock surge of over 2,200% in five years has made Capital Group’s current stake worth over $6 billion. Casey compared Bitcoin to commodities like gold or oil, saying it could rival gold’s global value one day. However, he expressed skepticism about Ethereum and other cryptocurrencies, doubting they will achieve lasting significance.
The firm treats Bitcoin-related stocks like any commodity-linked investment, analyzing fundamentals rather than hype. This approach has transformed an initial outlay of under $1 billion into one of Wall Street’s largest Bitcoin-linked positions.
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