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
You need to prepare everything if you want to invest your entire wealth in Bitcoin, because life isn't just about investing. The first step is to assess how well you've prepared for all your living expenses so they don't affect your Bitcoin investment. If you've prepared well, holding Bitcoin as your sole investment is far better than spreading it around. However, if you have strong skills, there's no harm in spreading your wealth across multiple assets.
Like building a business or investing in gold, both have potential if someone is able to execute them well. It's about how you take advantage of the available conditions, and most importantly, understanding the impact of the risks involved so you can find solutions for each situation.