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.
It's literally not a bad idea my friend, but inasmuch as he won't later in the future be in urgent need for the money and want it at all costs, which might result to the coin either been sold at a loss or profit. . Because if you could examined "Microstrategy" which is been referred as the top highest holder of Bitcoin currently, you will notice that they didn't just buy all their 170,000 BTC at ones, but rather they were able to accumulate such number by buying consistently and gradually, and today they rank the top. Hence, what Microstrategy did, any other company can also do the same, but if only they are disciplined enough to have a long term investment plan and stick to it, most especially now that the price of Bitcoin is said to be correcting around $60k to $70k, as it's predicted Bitcoin is likely to skyrocket higher to even $100k to $150k)