Your comment seems to suggest that we need to build an emergency fund before we start investing. Waiting to build an emergency fund before starting investing is not the right decision.
As you said, it is like trying to swim without a life jacket, basically we put on a life jacket before we get into the water. But if we use this in the case of investing, it will not be right at all. If we wait to build an emergency fund before investing, it will not be the right approach at all. You can build an emergency fund along with investing. This will keep your investments running and your emergency fund will be built. For example, you can build an emergency fund with 50% of the amount you are willing to invest and invest with 50%. In this way, you will not miss out on buying opportunities and you will be much ahead of your portfolio goals. It will be good to build an emergency fund along with investing.
Yes, I totally agree with you here, the best you can do for safety purpose of your investment is to build your Bitcoin investment and your emergency funds together like 50/50 as you said, but once your emergency funds is big enough to cover up for your three month expenses and upkeep, you can take a break and channel all that energy in building your Bitcoin portfolio aggressively, by doing so your Bitcoin investment is secured from any unforseen emergencies that may have warrant you to temper with your investment.
Why most Investors mostly have problem is that their emergency funds is too weak to carry their Bitcoin investment, any emergency situation that stayed for an extended period of time will easily make them sell off their holdings or temper with it, so in other not to fall into such mess, is to build your emergency funds to the extent that it can carry all your financial burden for the next three months.