If young and employed and little life savings, I guess it makes sense. If any of those cinditions is untrue, I'd call it unwise to foolish.
Yes, risks exist in any speculation. Does a man has long enough time to wait for the recovery of big drop of Bitcoins ? If holding bitcoins by life savings, you need to have super confidence to the market.
bitcoin is unpredictable and very risky,
only experienced people can survive, because it is very difficult if not learn from experience and must think smart.