Mutual fund giant Capital Group increases holdings in Bitcoin-related stocks to over $6 billion

PANews reported on September 14th that mutual fund giant Capital Group has increased its holdings in Bitcoin-related stocks from $1 billion to over $6 billion, according to Cointelegraph. According to the Wall Street Journal, Mark Casey, a portfolio manager with 25 years of experience at Capital Group, led the firm's foray into Bitcoin. Casey, who cited Benjamin Graham and Warren Buffett as influences of his investing style, has become a Bitcoin advocate. Over the past four years, Capital Group has gradually increased its Bitcoin exposure primarily through investments in so-called "Bitcoin Reserve Companies"—publicly traded companies that accumulate and hold Bitcoin on their balance sheets.