A rich man must not save or keep emergency funds down when investing in bitcoin like an average or low income earner. This is because his financial strength is very strong and he has several streams of income in which he can take from any of them to sort out an emergency when it occurs and it will not affect him at all, because he has the luxury to tap funds from any of his investments or business. Such person has overcome the challenges of an unforeseen circumstances that will occur in future.
Yes, you are absolutely right. If you always have several times the amount of your entire backup fund readily available, then why would you need to create a separate fund? If you have a special ability to leap across a river, why would you spend time building a boat? A wealthy person has multiple options to handle emergencies; they can gather funds from various sources when needed. So, why would they spend time creating a separate emergency fund?
An emergency fund is essential for those who lack the financial resources to combat urgent situations or whose leftover income after meeting daily needs is not sufficient to both invest and handle emergencies. A wealthy individual earns enough to meet their needs while also having excess funds to invest, leaving them with a significant surplus. However, a poor or middle-class individual often spends most of their earnings on daily necessities. While they may have some money left for dollar-cost averaging (DCA) and even setting aside a backup fund, they usually cannot retain enough for major emergencies.
For such individuals, having at least one emergency fund is a fundamental necessity. It would be a mistake to generalize the same financial strategy for everyone.