My question is regarding Bitcoin. Do YOU hold it, and maybe an explanation why or why not?
An attractive entry price?
Are there other cryptos that seem appealing?
Thanks
Some team members do hold Bitcoin.
Stripping away individual thoughts on its bubble-like price action, lack of cash flows, etc. its thesis is very simple - its price is a function of supply and demand. Its supply mechanics are known in advance (19M coins in existence today, with a total cap at 21M, 164K coins are mined each year, which gets halved every 4 years). Its demand factor is then the unknown.
There are lots of other commodities/items out there with limited supply (beanie babies, gold, etc.), but what makes Bitcoin unique to those items is there is no single entity or owner of the bitcoin network. No company, government, etc. owns or controls the network. The Bitcoin blockchain is fully transparent (this is Satoshi Nakamoto's wallet which shows a timestamp of the first bitcoin ever mined, with other transactions over time). Bitcoin is permissionless, anyone, anywhere in the world can use and operate on the Bitcoin network - it does not require standing in line at a bank to open an account, nor to transact, nor any other interactions with individuals. Its network cannot be altered by any single entity or individual. Unlike dollars, its supply cannot be infinitely printed as more funds are needed, etc. It is beneficial for holders and accumulators that its supply is fixed and known in advance. The price for one bitcoin may seem high, but at a fixed cap of 21 million coins, there are not enough bitcoins in existence for each millionaire in the world to even own one whole bitcoin (58M global millionaires).
With its recent drawdown, for a long-term timeframe, we would be comfortable buying here, with the acknowledgment it is volatile and has risks. We also like Ethereum and Solana, but these are further out the risk curve and highly volatile.