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
I support your idea. If you rely only on Bitcoin, you will have to be under financial pressure. Bitcoin may give you a lot but there is no certainty of it. So it can never be reasonable to rely on such an uncertain platform. There are many who have invested in other places besides investing in Bitcoin. It should be remembered that putting all their eggs in one basket is risky. If an investor invests some of his money in real estate or any other asset after investing in Bitcoin, then he can be risk free. Even if Bitcoin falls today, all other assets will not fall at the same time. The investor must consider his risk and quickly diversify his assets.