Seriously, guys, it's the $500 8-game. It's possible Micon might be -ev in it but if so it's by $20 or so. He didn't "blow $500." He's continuing to play poker, which involves risk.
I mean, OK, I may be biased cause he's lost multiple BTC to me in the past. But if playing poker was a good idea for him last month (I don't have an opinion) it's still a good idea now.
I guess I should add that I've played against Micon in BTC cash games on Gambit and later on SwC for very comparable amounts of money for months. This is consistent with his prior play, so the stakes don't suggest that he's playing with donated funds.