A friend of mine just got into Bitcoin, lucky for him, his successful. Before he started Bitcoin, he was actually into a good business of selling artwork which wasn't so bad. So he got introduced to Bitcoin and had a quick success. It's actually a good and exciting thing to see someone progress fast like that, but he quit selling artworks and other little businesses that kept him going he stopped, he now depends fully on Bitcoin. Bitcoin is the king no doubt, but From my Point of view I think that depending fully on it might be risky to you financially. I don't recommend anyone to depend solely on Bitcoin or any single asset. Bitcoin can fluctuate rapidly and market volatility might impact your financial stability. It is actually very risky to invest in a single asset. The part that scares me the most is that my friend has put all his resources into this one asset. If am wrong please correct me. Thanks
If it's only about cryptocurrencies, investing only to bitcoin is a good choice rather than investing or diversifying it to some altcoins. I've been into crypto many years now and bought some altcoins before but I loss money from it since they didn't pump on previous bull cycle.
Holding only bitcoin is good for crypto investment is good since it's already proven that its value increases over the years after many huge correction that happened.
Of course, outside of crypto, investing to other asset like gold or real estate is also a good choice since their value appreciates over time.