U.S. investment giant Capital Group has turned a $1 billion bet on Bitcoin-linked stocks into more than $6 billion in just over four years.
Summary
- Capital Group has grown its Bitcoin-linked stock investments to more than $6 billion in value since 2021.
- The firm’s largest position is in Strategy, where it holds a 7.89% stake.
- Public companies have collectively accumulated over 1 million BTC to date.
Capital Group has increasingly fattened its portfolio by investing in Bitcoin treasury companies over the past years, according to veteran portfolio manager Mark Casey, who told The Wall Street Journal in a recent interview that the company views Bitcoin as a commodity similar to gold or oil.
The mutual fund powerhouse is a 94-year-old firm that currently manages more than $3 trillion in assets. Although the company has a history of steering clear of speculative trends, its Bitcoin ambitions were led by Casey, who persuaded the firm to make its first major investment in 2021 by acquiring a $500 million stake in Strategy, formerly known as MicroStrategy.
Since then, Capital Group has moved to adjust and allocate portions of its portfolio into other Bitcoin-related firms, including a 5% stake in Japan’s Metaplanet and shares of mining company MARA Holdings.
“I just love bitcoin, I just think it is so interesting,” Casey, who became a Bitcoiner after meeting early advocate Wences Casares in 2013, said on a podcast interview hosted by venture-capital firm Andreessen Horowitz last year, calling it “one of the coolest things that has ever been created by people.”
As of 2025, the firm’s stake in Strategy has been diluted to 7.89% due to new share issuance and some light trimming. However, with Strategy stock up more than 2,200% over the past five years, Capital Group’s position is currently valued at roughly $6.2 billion.
Although the exact investment figures have not been disclosed, WSJ reported that Casey and his firm had turned an initial outlay of less than $1 billion into more than $6 billion.
According to the report, Casey and some of his colleagues at Capital Group argue that Bitcoin may one day catch up to, or even surpass, gold in terms of total value held globally. Yet, he remains skeptical about other cryptocurrencies and doubts that rivals like Ethereum will ever prove meaningfully valuable in the same way.
The company analyzes Bitcoin-related stocks in the same manner as it assesses firms involved in commodities like gold or oil.
“We view bitcoin as a commodity,” Casey was quoted as saying.
New corporate Bitcoin treasuries emerge
Bitcoin’s role as a treasury asset has been cemented by public companies like Strategy, Mara Holdings, and XXI, among others, that collectively hold over 1 million BTC across 190 public companies.
Since Strategy, which remains the largest corporate holder with 638,460 BTC held in its coffers, started the treasury trend in August 2020, Bitcoin has rallied somewhere between 860% and 900% to date.
New players continue to enter the market, despite the flagship crypto trading close to its all-time high of over $120,000.
Last month, KindlyMD, originally a healthcare company, joined the ranks of corporate Bitcoin holders after executing its first purchase of 5,743.91 BTC just days after completing its merger with Nakamoto Holdings.
Earlier in the year, Trump Media & Technology Group announced plans to create a Bitcoin treasury, alongside other public companies such as Canada’s Rumble and Hong Kong-based HK Asia Holdings that have unveiled similar strategies.
Source: https://crypto.news/u-s-investment-giant-capital-groups-bitcoin-bets-now-worth-over-6b/
