Of course, investing without knowledge will only lead to losses. His biggest mistake was selling his house and investing in Bitcoin without knowing about Bitcoin investing. Because investment never guarantees 100% profit. Moreover, the Bitcoin market is very volatile and there is a high chance of loss if you invest here without doing a good research. We must invest with good research and adequate knowledge before investing, otherwise we will lose our money
Selling your house to invest in Bitcoin is wrong and I can't advice any individual to do that because bitcoin investing is very unstable as the market can go against you anytime and if you sold your house that means you're houseless and when you don't have the patience to hold through the bear market, you can lose you investment and also lose your house which will make you homeless and not everyone can recover from such situations of homelessness.
Before investing in Bitcoin, you have to make sure that the money that you're using to invest won't cause you discomfort if the market moves against you that's why it's advisable to use your spare money to invest so you won't be panicking when the market starts dipping.
Consider the beginning of agriculture. The adventurous people transitioned from hunting and gathering to farming, while the skeptics persisted. Did they have a guarantee that the crops will flourish? Nope! Am I equating Bitcoin with the agricultural revolution at this point? Kind of, but not quite.
I mean, the main points here are about accepting change and being aware of risk. You're offering your home for Bitcoin? Unsane, yes? Its like giving up all your tents and spears in exchange for some seeds and crossing your fingers. Blockchain, Bitcoin, and the underlying idea, however, stand for more than just a few digital currencies. They are the forerunners of a new age in value perception in people.
But listen up: Dont go all in in anything (or, in more contemporary parlance, your house). Make good investments, be ready for turbulence, and always keep a few spears on hand!