Your point per discipline is inevitable when it comes to investment in general mostly the most valuable like that if Bitcoin, but my point of argument or opinion remain that if what emergency fund can't not resolve because there is not amount of fund that can take care of unforseen circumstances like life threatening, if you have not seen heavy investors hit with life threatening who sold their properties and many belongings even seek public contribution inorder to save their life I I have witnessed even hear some through news or Media sorry to use this common example of a Nigeria actor who was hit with illness that leads to amputation of his leg the man called john okafor popularly known as Mr ibu , the public made some donation and he lost his life if such a person has Bitcoin as asset and selling it could save his life you think he will reserve it and died because of long time holding, when I said life threatening it really entails life issue with deep sense of details. Sorry to use the particular scenario assuming a man kept emergency fund that is not up to what a kidnapper who adopted him is looking for and no means to get the demand, you mean such person should die and leave the Bitcoin unsold if he practice Long holding where means of selling and get released can be made, for me it's unwise.
If you have been a regular follower of this thread you shouldn't be sounding this way, because issues like this has long been dealt with here in the past. Well let me educate you more on this matter. The reason why we have reserved funds and emergency funds is that our bitcoin holding should not be the first alternative that comes to our mind incase of any unplanned emergencies that may come up in the future. Since we don't want anything that will disrupt our bitcoin holdings/accumulations, hence we make provisions for reserve and emergency funds. But in a situation where a life threatening sickness hits an investor, and the money in his reserved and emergency funds account are not enough, and more money is needed, you don't turn to your bitcoin first. You have to look for alternative means to raise more money, either by getting a loan from the bank or relatives.
If that is not possible, you should think of any landed properties to sell to raise the money. If there is no property to sell, and there is no other way to get a loan from bank or friends and relatives, you can take money from your business account, that's why multiple sources of income are encouraged for all investors. When other options are exhausted and no way to raise the money, then you can think of disposing your bitcoin to save your life. The point is this, your bitcoin should be the last option of raising funds if you find yourself in situations like that. You should not rush and dispose your bitcoin without trying to raise money from other sources first, even though health ground is a good reason to dispose your bitcoin investment premature.