Considering bitcoin investment as emergency money doesn't seem a bright idea because this will mean that once you need the money you should sell it a market value and sometimes it could be below your entry point.
The exit strategy is a long time movement because you must wait for the right price to convert your money into fiat so you won't be able to have access to your funds right away.
Emergency money should be in fiat.
Yeah. I agree. Emergency money should be something readily available in situations where necessary, hence the term. Investing in cryptocurrency which your intention is for immediate purposes doesn't sound practical. It will take you sometime and might give you a lower value in return. It's just that, the term "emergency" requires immediate action so I gues it would be better if the money you would use in such purpose can be easily taken hold of. But still, investing in cryptocurrency for other purposes that doesn't require immediate action is a good idea.