It’s not a stable investment.
Bitcoin is a currency that may be worth $30,000 yesterday, $40,000 today, and maybe worth nothing tomorrow. The market is much more unstable than other markets, which doesn’t make it a sound currency.
Have you ever been to a store with no money? It’s heartbreaking to see this happen. Once, I saw a little old lady pull up with a full cart five minutes before closing time. Because she had forgotten her wallet, she was forced to leave her cart at the checkout. She will probably remember that night forever. So will you, when you have no idea what is in your account.
To say, if you invest in something, you usually don’t need that money. You can easily compare investments to make a logical selling and buying decision based on that. You can cash out Bitcoin quickly, but you’ll never know if that was a good idea, so most likely, you’ll never sell. Many people who own cryptocurrencies are afraid to touch them because they have no idea if they will be worth more tomorrow than yesterday.
Many people think that you get rich by reacting quickly to the market. But it is more than that. You only get rich by responding rapidly to good opportunities. Spreading your money across multiple good options is called diversification. Many good decisions make that one wrong decision quickly forgotten.