Great narrative to explain why nobody should be a no-coiner in 2024. But your friend doesn't even need 10%. When a larger asset class is being drained into a smaller market cap asset class, there's always a multiplier effect. Currently Bitcoin's multiplier is 100+. That means that your friend can start with 1% and have enough upside exposure to protect his net worth.
Discussion
I agree. It was just amazing seeing him talk himself into the need for a non-zero position.