Bitcoin and other Cryptocurrencies are extremely high-risk, and have none of the traditional protections for average investors. Investments of this type are generally reserved for Qualified Investors, people who have already proven their fiscal education and ability to handle high amounts of risk. Volatility is sky-high, as is fraud. High-risk investments are an important part of a portfolio, but should be carefully balanced.
I have personally decided against investing into Cryptocurrency at this stage because I do not have a diverse enough portfolio to take on that much risk right now. Due to financial setbacks in the past couple years, it would be an irresponsible venture on my part. If I had a diverse and robust arrangement of investments already, I'd probably put about 10% of my total hodlings into crypto. It is a solid concept with legitimate uses, and has a lot of long-term potential. I would probably not invest in Bitcoins though. I'd invest in Litecoin and/or Ripple, most likely.