Chad Koehn, chief of registered investment adviser United Capital Management, described the picture that usually hangs behind him during his Zoom meetings — a burning $100 bill.
"Bitcoin is still a dangerous topic even today," he says, adding that it's easy to "get stereotyped," and that he's not a maxi in the same breath.
Catch up quick: Koehn's Salina, Kansas-based firm got attention last month for its just-under 5% holding of Fidelity Wise Origin Bitcoin Fund (FBTC), but he tells Axios in an interview that it was a bit of a misunderstanding.
UCM was already in crypto — it was just moving assets to FBTC from an existing bitcoin position in a different ETF.
UCM is an RIA — meaning it has a fiduciary duty to offer advice in its clients' interest — and is investing in bitcoin ETFs for its discretionary assets under management.
Zoom in: Koehn said getting into crypto requires guts and resolve.
"It's probably our rugged individualism, upbringing, that attracts us to this from the very beginning," he said, adding: "I tell people all the time... it's still a cold and lonely world in this space."
