Investing your emergency funds looks a bit new to me, ordinarily i was thinking it was cash reserve you can fall back on hence there is real emergency, but investing in gold that is still prone to heavy market instability shouldn't be seen as emergency funds, in my own view, if it gets to the point you would have to put your emergency funds in gold reserve as an investment, why not just empty everything into your bitcoin investment at once since it's already looking like the emergency funds can be invested.
Why are you calling it emergency funds when you know you still going to invest in money in other things? Either gold or other investment, don’t invest your emergency funds in them, because if their is an emergency case, you are going to regret why you decided to invest the money which is suppose to be used in taking care of any emergency when the need arises. If you decide to invest your emergency funds in bitcoin or other coins, when you need the money, then you might be selling at lose because you won’t really have choice at that moment than to sell even if you are in big loss. My emergency funds are always in my local currency, and it’s always in my bank account.
I made a comment regarding diversification few days ago which I have quoted below.
Well I am not sure for others but for me I think investors especially new investors should focus on Bitcoin investment first and keep accumulating as much as they can because managing multiple investment requires a certain level of experience and financial stability. So before diversifying you should ensure that your investment goals are clear and won't be compromised. If it will be affected then it's better to prioritize accumulating more Bitcoin until you have achieved what you are set out to do or at least reach a certain level that won't be affect your goals.
No need to rush into diversifying, there is no deadline. You can always diversify when it's safer.
Some people fail to understand that emergency funds are meant for emergency situations and if they must diversify they can't rely on their emergency funds else they will compromise all their investments. Managing two investment even with emergency funds is not so easy then think of managing them without any emergency funds.
Putting your emergency funds into Gold is not ideal and can't be regarded as emergency fund anymore rather another form of investment on it own. Doing so will definitely affect your investment when emergency situations come it make managing it very difficult and you will ending touching part of your investment which will lead to your investment plan being compromised and your investment goals not achieved.