I've read through all the replies and although there were different responses, I think I have gotten the best answer to my question because most members gave similar answers.
I was not trying to convince my friend, I just educated him a bit on the difference between Bitcoin and altcoins. I don't convince people to invest in anything at all, not even Bitcoin.
From the replies, I think I would just help him understand Bitcoin better and leave the rest for him. If he wants to buy then fine, if he doesn't, still fine.
You made the correct decision; pressuring him to purchase Bitcoin even with a small percentage of his life savings could have ended awfully badly. You'd be the one to blame in case anything happened. -snip-
I agree with you, convince or even coerce your friend to invest some his money in bitcoin is not a good idea. But educating your friend is a tricky enough to do. i mean you should be a neutral guide while explain how bitcoin works and do not to conceal the deficiency aspects such as the high volatility of bitcoin price, and etc.