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Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.
i support what you are doing, continue to encourage your friend to invest in Bitcoin, don't give up, you have saved his life and also the company that his parents inherited for him. Bitcoin has become a protector of asset value by many institutions and if your friend's company joins in, the value of the company's assets will likely increase from year to year.
but you have to accompany them because usually those who have never been involved in the world of bitcoin, will feel afraid when the market is bearish, beginners have a tendency to sell at a loss so always accompany your friend in their investment in bitcoin.