At this juncture, I want us to look at the potential risk by which this my friend has come to expose himself.
Or is there a smart move of him you can commend of him on that?
Your closest friend today can in the future turn out to be your enemy. Sharing a lot of sensitive information with him always back fire you in so many ways in the long run either when you guys are not in good terms or when he feels you're doing way better than him.
For his case, even if you will in the future need the help of your friend, you don't need to tell him so much before you can get his help, a friend should be able to come through for you even without you exposing to much details about your financial state. Even after you've fed him with the many information, when it's time for him to leave you stranded, he's going to do so as though you don't have a single atom of trust on him. There's a popular saying that goes thus, "someone that will help you won't stress you and this is purely true. A friend that will help you will eventually help you even if you don't make it look so obvious that you're looking for help from him.
Yes, there must be very good reason for you to share sensitive information with someone. If there is no benefit from sharing it, then do not do it. Why do something that creates potential problems but you don't get anything from it? I think that some people that say otherwise are wrong. You can live your life with your best friends without ever seriously bringing up your crypto holdings. Nobody needs to do it.
We should always observe limitation of how we engage on Bitcoin discussion with the public because to my most experience about people being physically attacked in respect of their digital assets are those who made it clear to persons that they invested in Bitcoin or publicly known to be playing a role in the cryptography space.
Recently there is a big trend about these security issues, one must exercise caution and not draw attention on you.