- Bigger bet in Saylor
- Submergence actions
According to a Recent report By The Wall Street Journal, Mark Casey, a capital portfolio manager in Capital Group, is aggressively betting on Bitcoin despite being a follower of the founder of Berkshire Hathaway, Warren Buffett, known as one of the strongest critics of the original cryptocurrency.
Casey is betting on Bitcoin because he is convinced that the leading cryptocurrency for market capitalization may eventually supplant gold as the main value reserve.
He states that Capital Group sees the cryptocurrency as a merchandise. It is worth noting that the Los Angeles Investment Manager has assets worth approximately $ 3 billion.
The influential portfolio manager, who has become one of the most vocal Bitcoin sponsors within traditional finances, is convinced that original cryptocurrency can eventually overcome the yellow metal market lid. At the same time, he does not believe that other cryptocurrencies are worth anything.
Bigger bet in Saylor
Capital Group made waves in 2021 by acquiring a massive participation of $ 500 million in Michael Saylor’s strategy (previously Microstrategy). Initially it had more than 12% of the company, but its participation has now been reduced to 8% due to the dilution of shares.
After the strategy shares experienced a huge demonstration, the dollar value of Group capital participates is now more than $ 6 billion.
In addition, the Investment Manager Group has made bets in other prominent Bitcoin Treasury firms, including Metaplanet based in Japan.
Submergence actions
In the last two months, Bitcoin Treasury companies have a much lower performance, indicating that investor enthusiasm has begun to decrease.
In addition, as reported by U.TODAY, JPMORGAN analysts recently warned that the failure of the strategy to reach the S&P 500 could also be a sinister sign for other Bitcoin Treasury companies.
