Foresight News reports that Grayscale said in a post that Bitcoin returned approximately 225% over the past three years, but the gains were highly concentrated in a handful of trading days. Excluding the five best-performing days would reduce returns to 95%; excluding 10 days would lower them to 27%; and excluding 15 days would result in a loss of 11%. By comparison, the Nasdaq returned 109% over the same period, with gains that were less concentrated. Grayscale believes that for highly volatile assets like Bitcoin, not investing also carries an opportunity cost. Since the best-performing days are difficult to predict, long-term investors should avoid trying to time the market and maintain continuous exposure.