I’ve fiddled around a bit, and ISTM that so long as the probability distribution of the logarithm of the eventual value of bitcoins is symmetric around the current value (and your utility function is logarithm), you should buy or sell so that half of your current net worth is in dollars and half is in bitcoins.
I’ve fiddled around a bit, and ISTM that so long as the probability distribution of the logarithm of the eventual value of bitcoins is symmetric around the current value (and your utility function is logarithm), you should buy or sell so that half of your current net worth is in dollars and half is in bitcoins.