I don't think emergency funds are that necessary when someone has stable sources of income. For example, when someone is a wage earner or salary earner, their income can simply serve as emergency funds if they plan well.The reason why I feel someone needs emergency funds is when they don't have stable sources of income. These are the people who need emergency funds in case anything comes up in the future. This way, they won’t need to dip into their investment funds.However, as long as someone has stable sources of income, those incomes can serve as emergency funds. The only thing is that if someone wants to enjoy Bitcoin investment, they should use the DCA (Dollar Cost Averaging) method and avoid buying all at once.
Everyone needs an emergency fund and it not for only those who don't have steady source of income. One thing you should know is that in life anything can happen which emergency fund will be needed. One of the qualities of a good investor is the emergency fund because of anything can happen. Just imagine you lose your job instead of you going to tamper with your investment you already have an emergency fund that you can fall to, atleast it can be able to sustain you for the moment.
One who is having a steady source of income with no plan for emergency fund, I think this can be considered as poor management of money. With an investment such like bitcoin, having an emergency fund is very important just to get prepared for the unknown. Sometimes we may have our plan due to the job and income we earn but life can be funny. It is called emergency fund because anything happens and if eventually it happens it is an emergency because it was never expected.
I agree with you 90% of the time. Everyone needs to have an emergency fund if you are not already a wealthy person. That is, if you are one of the richest people in the world, you may not need an emergency fund. But if you are an ordinary person, then adding an emergency fund to your financial management is the most necessary. You may be having a positive moment in life recently, but will such positive moments last forever? In this case, I would definitely answer no. Because this is not a characteristic of a human life. The characteristic of life is that you will have both ups and downs in your life (potential).
I do not see any alternative to having an emergency fund in your financial management as a plan for such potential moments in life unless you are a billionaire or one of the richest people.