Capital Group becomes Metaplanet's largest shareholder, with a stake worth $500 million

Simon Gerovich, CEO of Metaplanet, a Japanese Bitcoin treasury company, announced in a statement that Capital Group has become Metaplanet's largest shareholder, currently holding an 11.45% stake, with a market capitalization of nearly $500 million. Capital Group, a 94-year-old mutual fund giant known for its conservative investing style, has increased its holdings in Bitcoin-related stocks from $1 billion to over $6 billion. 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 vocal advocate for Bitcoin.