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Investment giant with $2.6T AUM on Bitcoin: ‘There is tremendous appeal for this type of asset’

One of the largest American financial services firms Capital Group with operations for over 90 years and $2.6 trillion in assets under management has termed Bitcoin as a tremendously appealing asset class.

According to the company’s representative and equity portfolio manager Mark Casey, Bitcoin’s position makes it an alternative to sub-zero yielding cash and bonds, South China Morning Post reports.

While speaking at a webinar, Casey said that because of inflation and changes in monetary policies, the $150 trillion bonds will likely lose value in the next decade, making Bitcoin an ideal asset for investments.

Casey believes that Bitcoin and cryptocurrencies, in general, have the upper hand due to their lack of control from central banks and limited supply.

 

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