I had a discuss with someone about how people become successful through the Bitcoin space with a case study of CZ, Binance's ex CEO. It was recorded that he had to do away with his house and invested the money into Bitcoin and today he has resources to afford more than enough houses anywhere in the world.
This is a controversial example to use.
CZ was already successful before Bitcoin. He had advanced greatly in his software career and had even started his own company 4 years before Bitcoin was launched. His house was not his "wealth". It wasn't a case of a retail employee who sold the only property he owned to invest in Bitcoin, in a make or break financial move.
From all publications about him CZ was never one who valued properties like houses and cars a lot, Wich could have made doing away with the house much easier, particularly it he had wealth locked away in other different digital assets.
I suggested to him to pay deaf ears to what people will say if he wanted to invest in anything as it was his life and his money.
You're walking a tight rope here. If anything goes wrong in the investment you will bear the brunt of the blame for hoarding him into selling his property for a high risk investment.
Also, your friend should definitely pay attention to the public, read books on investment, understand the risk from those that have been there, before making a decision. The market today and when CZ sold his house is a lot different, so you can't simply replicate what was done then.