If an investor cannot keep an emergency fund or a reserve fund (backup fund), then he will put his investment at risk. Because an emergency fund is kept for danger. If an investor gets into danger while running his investment and there is no one to help him. Then if he has to sell the investment to get rid of that danger, then he will have no end of regrets. You can face many obstacles and dangers while investing. Therefore, an emergency fund or a reserve fund is necessary to deal with any emergency situation.
Danger never comes in a hurry. If you keep an emergency fund, it means that you are going to invest risk-free. Those who do not keep an emergency fund or a reserve fund often lose their investment after being caught in a storm.
Having an emergency fund is indeed a must for everyone, whether they are investing or not. But when investing in bitcoin, of course, an emergency fund can be likened to a shield. Because its use is to cover emergency needs when the funds allocated for needs have run out. So in such conditions, emergency funds can be used. But if you assume that when investing and having an emergency fund will be free from all risks, I think that assumption is not quite right. Because you need to remember that having an emergency fund does not mean eliminating all risks, but rather to be able to minimize the risk so that it is not too big. Because basically the risk can never be completely eliminated when investing in any asset, including bitcoin. So don't misunderstand the use of an emergency fund, because if you assume that all risks are gone when you have an emergency fund, of course that is very wrong. Although bitcoin is indeed a fairly safe investment asset, investing in bitcoin still has risks, although not as big as other assets.