If you only have the knowledge and theory without real combat experience, you are still considered a newbie, and a newbie will never be able to make good profits in the market. Therefore, knowledge and experience are equally important and need to be well combined to help us survive and make a profit in this market.
The knowledge you can learn from the internet and others, but with experience, you need to experience it yourself to build your own experience and skills, you can't buy or learn from anyone else.

Knowledge would give you experience  then experience would give you more knowledge. It's like a two-way flow. You learn Bitcoin then you apply that knowledge depending on what you pursued. Learned trading? Go and trade in whatever exchange you prefer. Learned technical stuffs? Go build a crypto related web app or build your own crypto coin.

Just imagine being a carpenter. You know how each tools work, but how would you build a house if you only knew what each tools are used for.

A helpful distinction for the op's line of thought would IMO be to speak of 'know what' and 'know how'. You can gain the 'know what' type of knowledge from reading about something, attending lectures, watching videos etc. In the op's example, it's browsing the Internet to learn (know what) about Bitcoin. But there's also 'know how' kind, which requires practical engagement (and is obtained through experience. You can know what a violin is, but it won't help you know how to play (be able to play). With Bitcoin, it's knowing what a crypto wallet is without having the experience (obtaining know how) of using it, or learning about trading but not practising it. So to me, what we choose depends on the purpose, and experience is also a way of obtaining knowledge, just a different kind of knowledge. Combining the two is usually the right way.

Experience is the best teacher,I can read all the books of knowledge and someone who didn't read any book but he is always present during  practicals will perform better than the one who read the book. Take someone with knowledge to the field,he will find it difficult to do things right at first,until someone puts him through.

Practical brings out the best on whatever that you are doing than someone with bags of knowledge without practicals. Let's take an example of using a cold wallet for bitcoin storage,where you need to generate your seed phrase in an airgap system. This is very technical and if you make any mistake,everything will be messed up. So many people in the forum are finding it difficult to put this into practice,even though they have the knowledge because they haven't put it into practice but if they see someone to teach them one-on-one,it will be very easy for them. I am an example, from my own perspective someone who is experience will do better than someone who doesn't practice but have the knowledge. Let's take example of a medical field,someone  without experience but with all your knowledge is useless because you might end up taking a life.

Only those who got shot once in their life knows how bullets in the body hurts, it's a very bad experience, a near death experience, but those who haven't gotten shot before won't dare come out in the open and ask someone to shoot them.

They don't want to experience it and they are ready to stay away from guns forever, in cryptic space we don't want to get scammed, but those who have lost funds to scammers are more carefully than those who haven't experienced it yet.

Still no one wants to lose money to scammers, having knowledge and experiencing something or an even are both different things, You don't have to have an experience of something bad or evil before you have some knowledge.

There are some people in the crypto space that haven't lost funds to scammers before and that doesn't make them relent or feel like a god, they already have the knowledge to secure their funds themselves.

In the first place, why should you even think about trying to limit yourself when you could possibly learn everything?
Knowledge is never complete without experience and as such if I'm to learn any skill, I will never choose any of the half-bake individual you just suggested, but will rather choose someone who has both knowledge and practical experience on any trade or skill I intend to learn, so that as theory is been taught, practical can also be initiated for full understanding, not to mention about crypto whereby if a user has no experience, he/she could end up sending a lost transfer.

If we would really just be needing to choose one then i would definitely be choosing up "EXPERIENCE". Why? Once you do have some experience then you would eventually gained up knowledge which is something that inevitable or something that you would really be able to gain along the way. I agree on what most people been saying on here is that having both would be the best because once you do also have the knowledge on what you are doing then you would be able to gain more via more experience and this do simply shows up about mutual benefits or having that back and forth gains as long you are really that wary
about your actions because if you arent that making such move or really having those plans then it wouldnt really be that progressive or something that you would be able to gain up.

It is a no-brainer that both knowledge and experience is essential.  Learning to mastering is a process.  First, it is obvious that we need knowledge in order to do things and we need the experience to master things.  These two concepts are inseparable if we wanted to excel in any aspect of life.

You cannot do anything without any action.  So if you applied the knowledge of what you learned you can then gain experience in how that knowledge works.  So as I stated it is inseparable.

For example, you gain knowledge on setting up a wallet.  Then you set up a wallet, and by then you gain experience in setting up a wallet.  Isn't it too obvious that both can't be ignored?

Bitcoin is one risky investment and for you to be profitable on it, you should have both knowledge and experience as that will definitely make you a successful and profitable bitcoin investor or trader. Knowledge alone makes no sense, but if you make it as your advantage and develop your best skills out from your gained knowledge, then you will be more valuable and successful in your chosen investment.