Historical positionETFDigital Assets
FBTC
Fidelity Wise Origin Bitcoin Fund
Portfolio weight
Not currently held
Spot bitcoin held with a qualified custodian.
This position has been exited. The analysis below is kept as a record of the reasoning at the time and is not maintained as current research. See the Decision Log for the full decision history.
Exited because the position could not be justified
The original Bitcoin purchase was largely driven by FOMO, made as a less experienced investor.
I could not explain Bitcoin's intrinsic value or defend why it deserved an allocation. Every position should have a reason behind it, and this one did not meet that standard.
Weakening momentum reinforced the timing, but that was not the reason. The reason was that I could not articulate the case.