My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.
My only question to all, was I able to give my grandfather the right advice??
Yes because it's not wise to put all your eggs in one basket. As I've said before, regardless how good the investment and profitable it seems, still, it is not wise to go all in since we don't know what lies ahead that can affect our investment negatively. The reason why diversifying is better to minimize the risk of losing all your money in just one investment that you thought can give you huge gains.
Anyway, how knowledgeable your grandfather about Bitcoin and who introduced it to him? Because he seems confident that Bitcoin has a good future (certainly we're all hoping for that). But we don't have crystal ball to see what's going to happen as time goes by.