It is greed and pride ,if am not mistaken he's aware of Bitcoin,he feels what he can get from Bitcoin,he can also get from can also get more from other coins within a short period of time,he wants to show off, not knowing that Bitcoin can't be compared to others cryptocurrencies.
If he had invested that money in Bitcoin,he will be smiling now, even if you don't know,why not try your luck with little amount of money and see the outcome before putting something huge.He who laughs last laugh best.