do both....take at lest 1 or 2 btc and lock them away 
this will be you retirement 
but if you're not experienced in trading i recommend you to pick some good alts and hold them.
For me trading them in some alts would be good idea cause he could earn some more. Of course you make good point to just make it with a little part of bitcoin which he has to have some protection if he lost some. this will be you retirement but if you're not experienced in trading i recommend you to pick some good alts and hold them.