this has already been debunked many times, once the other services are implented on the steem blockchain it will have a sustainable eco system which will make it a great investment in all type of markets. Steemit is just the first phase, also your friend is generating a lot of steem just by holding that amount of steem power. He will become one of the many early investors that will get richer and probably get back his investment within 3 months.
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