And you didn't argue to that by discussing about the advantage bitcoin has over real estate in terms of disasterous occurances?  And probably would had asked him to put his reasons in details because then you'd hold him handicap. Though that's if he isn't a bitcoin fan because critics would always act ignorant even when obvious.
I would had believed your friend if he had given the credit on the real estate in the sense that it profers profits returns in a closer range than bitcoin while they both are appreciable assets.

There's no just risks in investing on bitcoin if not of the emotional sentiments that provokes investors when the market value falls but if can put into control of your emotions then relax, your bitcoin will always be safe but when used a more secured wallet because I know it's the scamming news through the centralized exchanges that misinforms people being skeptic about bitcoin. So it'd had been better if diversify and would had really been better investing on the physical and digital assets as the word implies (in case of necessity).