Date: 22nd December 2022
Hi All
Just wanted to drop you a quick email to update you on the first days of the BTST Bitcoin Fund.
So far, we’ve allocated 28% of the funds in to BTC in two separate buys.
As tempting as it is to buy all at once at these prices, we’re sticking to the plan of cost averaging in.
Although I feel that this is likely near a bottom for the BTC price, given the macro economic factors it could well go even lower in the coming months (providing an even better opportunity to cost average in).
It’s virtually impossible to pick the exact bottom of a bear market and so we’re not even trying. As it stands, Bitcoin is still in a structural downtrend and so until that changes we are sticking with the plan of cost averaging in.
If there is a structural change and the price starts marching upwards then I’d be more inclined to make bigger buys if there is confidence that the market bottom has passed.
I’ll keep you posted of any significant changes over the coming weeks/months.
Have a good weekend!
Adam