TechFlow news, September 14 — According to Cointelegraph, Capital Group, a 94-year-old mutual fund giant known for its conservative investment style, has increased its holdings in bitcoin-related stocks from $1 billion to over $6 billion.
Mark Casey, a Capital Group portfolio manager with 25 years of industry experience, led the firm's move into bitcoin, according to The Wall Street Journal. Casey, whose investment philosophy has been heavily influenced by Benjamin Graham and Warren Buffett, has now become an advocate for bitcoin.
In an interview with venture capital firm Andreessen Horowitz's podcast, Casey said: "I just like bitcoin—I find it really fascinating." He described bitcoin as "one of the coolest things humans have ever created."
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