Probably one of the most common advice I've heard when it comes to investing in bitcoin; and I've used it a lot of times too. But honestly, in our current situation where fiat is getting printed like hell, I started to use that statement less and less. It just seems that holding bitcoin is now totally necessary
I'm now in that situation. Currently dealing with the risky investment. The amount I put is not the money I can't afford to lose that's why as much as possible, I'm keeping my hands active at it. Putting only an amount I can afford to lose does mean that I'm willing to lose that amount. I don't like that investment mindset as it's just treating my investment as gambling which should not. Every piece of money I put on crypto should be treated seriously.
^ It should be the amount that can afford ready to lose, no one who will like an investment that always loses. Just take it seriously and hope that your investment will gain a lot of profit. I am not using this line, no one will put their money for nothing because of losses. I think the best is to invest the amount that you can afford to spend. Investing is not wasting money, nor gambling it which is very risky, I invested in crypto because I want to make a profit even though there is less risk.