Hey there. I own a position in Bitcoin yes. It had started out as a 4%~ allocation to my portfolio. It grew to 10% based on the large scale runup and I eventually trimmed it back to 5%. It has now since ran up again to 7%+.
This is an asset that is very heavily dependent on your overall risk tolerance. If you have a quick trigger finger in terms of panic selling or you simply cannot withstand volatility (and I mean BIG volatility) it should probably not be an asset you own.
You have to be comfortable with your position being down 50%,60%,70% etc. Bitcoin has shown this type of volatility in the past and will no doubt show it in the future.
If you're looking to own, it is critical that you judge what type of allocation you want as well. I chose 4% because this is typically on the lower end of the range of any core holding I'd assign to an equity. My original thinking at 4% was if it did go to $0, 96% of my portfolio would be completely fine and generally, I'd be unphased.
I find where a lot of people go wrong here is it is an all-or-nothing situation. They go way too heavy into speculative assets like this and ultimately panic and sell them at the wrong time. If you're going to own, do so with an asset allocation where if it did fall an extreme amount, you would be comfortable with it.