So what? Just let your friend do his thing. We don't need him and if he's that rich enough, he knows what to do to retain his wealth. While we're here, we're just chilling and waiting for the bull run. Money is still money and even the richest people likes to have that money that's coming from the bull run. Why look at those people that have a lot of bitcoin when you don't even have it? Let the number play itself and let it grow overtime thanks to the demand and halving that's going to make it scarcer soon.

First, Craig Wright shouldn't be considered a Bitcoin enthusiast.
The reason you provided above is not enough reason for your friend not to have an interest in BTC if he/she understands the technology aspect of it and the reason why people like CZ, Sailor, etc will never go down on BTC with the inclusion of reason why they always pump their own into it.

Exactly. He knows as much as he reads in the mainstream media.

Craig doesn't own the 1 million bitcoin he claims to own, otherwise he would've used the money to pump his SV shitcoin long time ago.
Michael Saylor doesn't control bitcoin in person. It's owned by Microstrategy and that company has a board.
Most of the coins associated with CZ is again owned by Binance, not him in person.

If Black Rock buys bitcoin for the ETF OP's friend will probably say that its another whale owning bitcoin that can dump it all.

He is already riched and is contented to his sources of income as long as Bitcoin is not for everyone nomatter how series of diverse of your investment in as much it is not possible for anyone to be a pertaker in every existing industry nomatter how lucrative and promisable profits it would be.
There is like and choices to life.

Yes, sir, I appreciate that you have explained it very well. And if it is seen in reality, what they claim is wrong, because I have not seen anyone who takes the investment and says that I can up and down my assets by selling or buying the market, but every time I have been hearing from someone, that is, from big people, that we cannot raise or lower the market for ourselves because there is no one in this market, only one who can control the market; rather, there are many investors who want to muniplate this market. You can show a correction in the market by buying and selling according to the trend.

The advantage of cryptocurrency is that it is decentralized; it does not have a limited authority; only he is running it, but everyone works together. It is true that CZ has a large amount of Bitcoin, but he simply cannot munipulate the market; rather, he needs a large amount to munipulate the market. And in a decentralized world, it is not appropriate to look at the capital of only a few people and say that these are the people who control the market, but CZ says that the market cannot be predicted. They also have this idea that the market cannot be controlled by single-buddy people, but many people work together under cover.

I hope now OP's friends understand what the truth is.

Most of the people into the bitcoin market were the one who want to make themselves rich. From the words of OP it is clear that his friend is already rich. When he have enough money and doesn't want to risk they'll find reasons. Apart from this, bitcoin is much preferred by the people who love technology advancement and understand well about the development taking place with time. Majority of the mined bitcoins into the hands of limited members doesn't give the control to the them. Market manipulation takes place, can't deny it. What needs to be understood is to what extent the manipulation happens.

If I was so rich, I wouldn't have known about bitcoin or pick interest in it. I wouldn't have been in this forum also. I would definitely be importing cars and aircraft spear parts into my country. Bitcoin is not always a thing of the comfortable people. It is because I lost funds to scammers and I was finding a way to fix myself into an online earning, that is why I am here.

People who are overly rich only looks for opportunities to invest their money and such opportunities would be what they know too well and trust, that is where bitcoin does not stand much chances to compete.

Your friend is just learning bitcoin on 1 side, does not cover the whole. I don't know why newbie always compare bitcoin with price even they can get more than that. Bitcoin is a new technology where they can learn everything with that such as blockchain tech behind, and how to secure your data on that. The price is just a bonus with that doesn't guarantee it will make him happy if the price rises multiple time. So if your friend learning the technology behind bitcoin, I really sure he will get more benefits than that price, and maybe he will create something bigger than that. So, if we look at the major discoveries by several ancient researchers, they don't care about profit, their goal only benefit of the people, but after that he got everything he wanted.

If someone is not interested in buying Bitcoin even after learning about it then it's far better to let that person do whatever he/she wants to do because we can't force someone to invest in Bitcoin as it's someone own choice whether to go with Bitcoin or not.

Your friend will surely regret about his decisions during the next ATH because he will think that why he didn't invested in it. Just allow him to do whatever he likes to do, don't force him to invest in Bitcoin.

Some public known whales in Bitcoin Treasuries.
https://bitcointreasuries.net/

Micro Strategy is one of Bitcoin Whales and it's unrealistic if anyone believe Saylor and Micro Strategy only buy bitcoin and they will never sell bitcoin. They buy it because it is one of their investment so investment must come to a point to take profit. They might be like Warren Buffet and Berkshire Hathaway, can hold good assets for many decades but no single selling time, it is impossible.

They must sell part of their investment to get money for business operation, for retrieve their initial capital to make sure if worst thing happens, they will still not lose their initial capital.