An emergency fund is money set aside to solve unexpected financial problems and not to be used to solve daily expenses. So, if any investor invests his whole money into bitcoin with the idea that his emergency fund will allow him to hold his bitcoin for a long time, that investor will end up selling his bitcoin to survive even though he is at a loss because his emergency fund cannot take care of his daily expenses, and it can't last for a long time. If anyone wants to get it right with a bitcoin investment, that person should invest what he or she can afford to lose and also keep an emergency fund, a reserve fund, and a float.