January 11, 2021

Q4-2020-CFC Bitcoin Fund Quick Look

CFC Bitcoin Fund experienced significant gains in Q4 of 2020, which resulted in an increase of
over 78% in capital that had been deployed by the Fund as of 12/31/20. The aforementioned is
inclusive of all positions executed and maintained by CFC Bitcoin Fund during the time period of
10/1/20 through 12/31/20.

Both past and present regression analysis and performance patterns of Fund assets indicate the
potential for future activity most closely resembling that of months November and December
2020. As Bitcoin has and will continue to play an integral role in the Fund’s overall investment
strategy, new all-time highs continue to be consistently achieved by the asset, thereby
decreasing some relevance of past performance patterns. However, further correlation
between calendar years 2013/2017 and 2021 is expected, given Bitcoin’s previous performance
over the 12-18 month period following the asset’s supply decrease (i.e. halving; years 2012,
2016, 2020).

Asset Accumulation & Allocation

CFC Bitcoin Fund continues to accumulate assets in a discretionary capacity, as various long
positions in both Bitcoin and Ethereum will continue to be acquired and held by the Fund.
Accumulated long positions held in any of the Fund’s digital assets will be appropriately secured
and stored, utilizing “cold storage” protocol proprietary to the Fund, with the direct oversight of
Coletra Technologies, Fund partner and cyber security provider. Limited Partners of the Fund
are assured that extensive steps are continuously taken to ensure the safety, security and
integrity of the Fund’s capital, assets and information under management. To date, no security
breaches of any capacity have been detected by the Fund.

2021 Goals & Objectives

The Fund’s forward-looking objectives remain consistent with those of Q4-2020. Continued
aggressive accumulation of assets and increased capital contribution frequency remain
paramount. The due diligence methodologies and asset valuation protocols discussed in the
Fund’s Confidential Offering Memorandum (PPM) will continue to drive 2021 investment
strategies. CFC Bitcoin Fund expects to meet or exceed $10M AUM on or before 12/31/21. Any
and all material updates or adjustments to the Fund’s operations, partnerships and protocol will
be relayed to Limited Partners within an appropriate time frame, and no such events are
expected to occur at this time.

For a more in-depth analysis and overview of CFC Bitcoin Fund, please request a copy of the
Fund’s Confidential Offering Memorandum. This can be done via email at or by visiting