]
[Edited out]
It’s not a bad idea if as a bitcoin investor you decides to diversify into other business or investment sectors not related to bitcoins provided that you have what it takes to do so whereby it will not affect your bitcoin accumulation and holding in such a way that you start selling your bitcoins just to raise the money for your diversification. It is only not wise if as a bitcoin investor, you still choose to diversify into investing in other shitcoins or assets because at this point I don’t think what you’re doing is diversification again, knowing fully well the relationship between bitcoin and other shitcoins. Even most of this shitcoins depends largely on the performance of bitcoins even though most people argue about this, but the truth is that these shitcoins depends largely on the performance of bitcoin . So why chose to diversify into shitcoining as you may end up in a more higher risk instead of trying to manage the risks. The least you can do as a bitcoin investor, if you want to diversify, let it be in a sector different from bitcoin, there are so many areas where you can chose from such as estate and land, stocks, logistics etc. so I don’t think is a bad idea if as a bitcoin investor you chose to diversify into other sectors in order to enhance your risk management and mitigation because if one of the sector performs poorly, you can use the other sector to potentially balance or reduce the losses. In as much as you are diversifying, and also being consistent with your bitcoin accumulation and holdings, then nothing is wrong.
It will not be a bad idea for an investor who has good amount of bitcoin in his portfolio and has been accumulating for 10 years or more to decide to diversify his portfolio into other assets that doesn't correlate with bitcoin. However it will be a lame idea for an investor who is barely 2 to 3 yrs in accumulating to begin to talk about diversifying as this will definitely affect his bitcoin investment since the investor is still struggling to build up a good portfolio in bitcoin diversifying may affect and his level of continuous accumulation of bitcoin since he will have to pull funds in other assets. In other to avoid distractions while trying to build a better portfolio in bitcoin we should focus more on accumulating bitcoin persistently and continuously until we have a good stash of it in our portfolio.so before talking about diversification,we should have a good stash of bitcoin in our portfolio and also have being holding for 10yrs longer or more.
I agree with your point to an extent, bitcoin first is an investment, you should be done with one investment before thinking about another, so for bitcoin, you should be able to reach an overaccumulation stage which could take you up to 10 years depending on the strategy your using to build your portfolio, so that by the time you will wish to diversify into any other investment, your bitcoin investment journey wouldn't suffer any setback. Some persons just want to multitask themselves in pursuing different things at the same time instead taking one step at a time, your bitcoin accumulation journey is already a tedious one, as it will require you to be focused on your goal and not self-destruct by diversifying when you haven't reached your set goals.