sometimes he tells me that he's afraid to invest his money on the bitcoin due to the potential losses.
You potentially could lose everything you own. It's possible for your house to burn down, your bank to go bankrupt, your car to be stolen. Are you afraid it will happen? Are you losing sleep every night thinking about it? I sure don't.
Yes' there's a chance to lose everything when you buy bitcoin, but there's also a chance to lose it all when you continue to hold fiat money.
IMO buying bitcoin is one of the smartest things you can do in life.
Well, the fact is that investing is very risky, which is why the profits offered are so large. If someone had said it like that, they really didn't want to take the risk. However, many people want to take risks when they realize that investment is important, and taking risks when we still have a source of income is something that is highly emphasized, especially when we are still far from financial freedom.