An article in the Wall Street Journal is getting some traction. Its based on a pdocast from last year, bear that in mind!
In summary:
- Capital Group, a 94-year-old mutual fund powerhouse known for its conservative style, has made one of the biggest mainstream bets on bitcoin. The push is led by veteran portfolio manager Mark Casey, who says his approach is shaped by Benjamin Graham and Warren Buffett, yet he has become one of the TradFi world’s most vocal bitcoin advocates.
- Casey, 54, has called bitcoin “one of the coolest things ever created” and has overseen investments that grew from under $1 billion to more than $6 billion in bitcoin-related firms over the past four years. He views bitcoin as a superior modern-day store of value compared with gold, arguing its price will eventually match or exceed gold’s share of global wealth. By contrast, he doubts other cryptocurrencies like ether will gain lasting value.
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BTC update, hourly chart.
This article was written by Eamonn Sheridan at investinglive.com.
