$50k!!! That's rich mate!! You have lost almost half of my mortgage value. You could have just converted back those bitcoins into fiat and set up your own business or invest that amount to traditional bank deposits to earn interest. However, all is well that ends well! I am happy that you learned the truth but in hard way!
And that's not all. From what I understand he lost money on his investment first and then tried to make it up by gambling and lost 50k there. It could be a 100k total loss from investment and gambling. I could only dream of such money and if I had it I'd probably be too scared to invest or gamble with it. That would be like my lifeline that I'd be afraid to cut. I hope he will find a way to earn it back.