Capital Group turns $1B Bitcoin bet into $6B windfall

Capital Group, the nearly century-old mutual fund giant known for its cautious investment style, has expanded a $1 billion stake in Bitcoin-related stocks into more than $6 billion.

Mark Casey, a portfolio manager with 25 years at the firm, led the strategy. According to a Sunday report by The Wall Street Journal, Casey, who credits Benjamin Graham and Warren Buffett as key influences on his investment philosophy, has become a vocal advocate for Bitcoin.

“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.

Over the past four years, Capital Group has expanded its exposure mainly through investments in Bitcoin treasury companies, public firms that accumulate and hold Bitcoin on their balance sheets.

US fund house Capital Group has appointed Henry Chan to lead financial intermediaries in Hong Kong.

In his new position, Chan will manage the city’s team of financial intermediaries, focus on expanding distribution, and enhance existing working relationships with clients. He will be based in Hong Kong and will report to Toby Chan, the head of the Greater China client group.

With 20 years of industry experience, Chan has considerable expertise from time spent in distribution roles at large asset managers, including seven years with Capital Group. This appointment reinstates Capital Group’s strong commitment to Hong Kong as a key market and its emphasis on delivering high-quality service through deep client relationships and thought leadership.

Capital Group turns $500M Bitcoin Bet into $6.2B payday

Capital Group’s most prominent Bitcoin-linked investment is in Strategy (formerly MicroStrategy), the software company turned Bitcoin vehicle under founder Michael Saylor.

In 2021, the firm purchased a 12.3% stake in Strategy for more than $500 million. That holding, now diluted to 7.89% through share issuance and modest trimming, is valued at roughly $6.2 billion after Strategy’s stock skyrocketed more than 2,200% over the past five years.

Beyond Strategy, Capital Group also holds a 5% stake in Japan-based Metaplanet, a hotel operator that pivoted to Bitcoin, and shares in mining company Mara Holdings.

Public firms hit 1M BTC milestone as buying spree slows

Public companies’ Bitcoin holdings crossed the 1 million BTC milestone in August, yet overall accumulation slowed compared to July—a pause that coincided with Bitcoin’s bull market losing momentum.

According to the latest Bitcoin Treasuries Adoption Report, tracked treasury entities added 47,718 BTC ($5.2 billion) last month, less than half of July’s 100,000 BTC haul. That brought total holdings across public companies, private firms, governments, and ETFs to 3.68 million BTC, valued at around $400 billion month-end. The 1.2% monthly increase marked a sharp slowdown from July’s 4.6%.

The relaxation in corporate purchases of BTC may explain why the surge higher towards $123,000  was not sustained. In mid-August, bitcoin reached an all-time high but plummeted by more than 11.5% by the month’s end to less than $109,000.

The slowdown happened despite aggressive fundraising announcements. Treasury stocks would see more than $15 billion in new equity raised, including Strategy (MSTR), KindlyMD (NAKA), and Metaplanet (3350). Those commitments have not yet translated into immediate purchases, creating a split between fundraising headlines and actual market reality.

MicroStrategy, rebranded as Strategy, remains the largest corporate holder with 636,505 BTC. MARA Holdings follows with more than 52,000 BTC. New entrants such as XXI and Bitcoin Standard Treasury are rapidly climbing the leaderboard, while firms including Metaplanet, Bullish, and Coinbase round out the top 10.

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