The bitcoin is an investment itself. The idea of ICO is great, but as in any sphere of investment, you should lear more about the market and people and projects before giving your money to someone. Since you are asking, I would suggest you take your time to gather some knowledge about all this stuff.
he can't invest his bitcoin to bitcoin, but he can dump and buy back more bitcoin if that what you mean, ico are bad now not a single ico increase above the first entry level price of the ico itself, i would avoid ico and focus on other standard altcoin
ICO project will be written in ICO thread, I think that if want to invest some bitcoin project into ICO. we should have some experience with ICO project, and There are many ICOs in this forum so we have to be careful in choosing ICO and we can buy more bitcoin to invest in the future