Buffett Disciple at Capital Group Bets Big on Bitcoin as Gold Alternative

Mark Casey, an equity portfolio manager at Capital Group, is making bold bets on Bitcoin despite being a longtime follower of Warren Buffett, one of the cryptocurrency’s fiercest critics. Casey believes Bitcoin will ultimately overtake gold as the dominant store of value, positioning it as a legitimate commodity within traditional finance.

Capital Group, a Los Angeles-based investment firm managing roughly $3 billion in assets, has become one of the more prominent institutional supporters of Bitcoin. The firm grabbed headlines in 2021 with a massive $500 million investment in Michael Saylor’s Strategy (formerly MicroStrategy). Initially holding more than 12% of the company, its stake has since diluted to 8%. However, thanks to Strategy’s meteoric rally, that investment is now worth more than $6 billion. The firm has also expanded its exposure through other Bitcoin treasury companies, including Japan’s Metaplanet.

Casey, who has emerged as one of the most vocal Bitcoin advocates in mainstream finance, insists that Bitcoin’s long-term potential far exceeds that of gold. At the same time, he dismisses the value of other cryptocurrencies, emphasizing that Bitcoin remains the only digital asset with lasting importance.

Still, recent performance has raised concerns. Over the past two months, Bitcoin treasury firms have underperformed significantly, signaling a drop in investor enthusiasm. Adding to the caution, JPMorgan analysts recently warned that Strategy’s failure to secure inclusion in the S&P 500 index could spell trouble for similar firms tied to Bitcoin holdings.

Despite these challenges, Casey remains confident in Bitcoin’s future dominance. His aggressive strategy underscores the growing divide in financial circles—between traditional skeptics like Buffett and forward-looking investors convinced that Bitcoin will ultimately surpass gold in market value.