Purchase 2 $BTC

Proposal: Purchase 2 $BTC at the current price of this proposal passing (~$23,942 USD).

Reason: BTC is arguably the greatest crypto asset; not having exposure to it in any crypto fund is a mistake from a diversification point of view. The dao has had plenty of conversations about diversifying the treasury by holding altcoins, however, they hold no upside potential. Investing in bitcoin provides a level of stability while still offering upside potential. The result of this proposal is roughly 6-7% of the treasury could be considered a bitcoin "reserve".

Bull case: Btc is currently down ~50% YTD. While short-term fluctuations are inevitable, the current price is still at a good entry point with plenty of upside potential, as it is increasingly being considered a legitimate store of value by governments and businesses worldwide.

Bear case: Crypto markets crash due to economic unrest; however, btc is typically less volatile compared to eth and NFTs. Another argument against this proposal is that eth will outperform btc in the short term. While this is a valid argument the intention behind this proposal is to establish a more diversified treasury, with long-term goals in mind.