The Capital Group, a 94-year-old Mutual Fund Powerhouse known for conservative investment strategy, has grown a $ 1 billion position in Bitcoin-related stocks in over $ 6 billion.
Mark Casey, a portfolio manager of 25 years in the capital group, led the company’s move to Bitcoin. Casey, who describes his investment style as Benjamin Graham and Warren Buffett’s shape, became an advocate for Bitcoin (Btc) According to In a Wall Street Journal Sunday report.
“I just like Bitcoin, I just think it’s interesting,” Casey said in a podcast interview with venture firm Andreessen Horowitz. He called Bitcoin “one of the chilled things people created,” each WSJ report.
Over the past four years, the Capital Group has built its exposure especially through investments in so-called Bitcoin treasury companies, public companies that accumulate and hold Bitcoin in their balance sheets.
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Capital Group’s largest bitcoin bet is in strategy
Capital Group’s most prominent handling is in strategy (formerly microstrategy), the software firm changed in a Bitcoin vehicle Neither founder Michael Saylor.
In 2021, the Capital Group acquired a 12.3% stake in strategy for over $ 500 million. That stake, now melted at 7.89% due to shares and some trimming, costs nearly $ 6.2 billion following more than 2,200% advances in strategy stock for five years.
Casey said he and his colleagues have reviewed these companies the same way that they assess companies involved in goods such as gold or oil. “We look at Bitcoin as a commodity,” he told WSJ.
Capital Group’s exposure also includes a 5% stake in Metaplanet based in Japana hotel operator-turn-bitcoin holder, and sharing Mara Holdings mining.
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Top 1 million BTC is the corporate bitcoin treasury
As reported by Cointelegraph, the corporate bitcoin treasury Now hold more than 1 million btc costs more than $ 117 billion, according to bitcointreasuries.net.
Michael Saylor’s approach remains top holder with 636,505 BTC, followed by Mara Holdings with over 52,000 BTC. Newcomers such as XXI and Bitcoin standard Treasury quickly get out of the ground, while companies like metaplanet, bullish and coinbase are circling the top 10.
At the forefront, companies such as Metaplanet and Semler Scientific have expressed aggressive target accumulation, aimed at gaining 210,000 BTC and 105,000 BTC by 2027, respectively.
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