Yes, because it did so for the wrong reason. "I thought that Apple stock was overvalued, so to short it I bought a lottery ticket" is nonsense, even if the lot

Yes, because it did so for the wrong reason. "I thought that Apple stock was overvalued, so to short it I bought a lottery ticket" is nonsense, even if the lottery ticket wins. Portfolio construction isn't about picking the biggest winner. It's about finding the optimal rate of return for a given amount of risk tolerance. "I think we're due for hyperinflation" is a statement of risk aversion; bitcoin is not usually the risk-averse answer because it's correlated with so many other risky things as well.