It would be ridiculous if we took out a loan to invest in crypto, because crypto is unpredictable. We should use cold money to invest, not money from debt that we have to think about paying back in installments every month.
Loans and investments can be only in one case, only when you buy profitable real estate and rent out daily, controlling this process yourself, and even then there are risks, but to take loans to invest in cryptocurrencies is very dumb)
Loans to buy real estate that are rented out daily provide profits that can be used to pay loan interest each month. but loans to invest in crypto, I think this is not appropriate and too risky. Crypto is unpredictable and highly volatile. So, If we want to invest in crypto better use free money
I would even put it differently, money in investing in cryptocurrency should be used only those that you are ready to practically lose, it is about those that you want to invest in those projects that are not in the top, even investing in bitcoin you should be ready to forget about this money perhaps for several years.
You both hold enough reason to defend your answers, and you know what, you both make sense.
If you take a loan and invest it in cryptocurrency, we can see it as a good and bad decision. Why? Because if you take a loan, it means you need to have a passive income to pay the loan every month, if you don't have any money to pay that loan, you will end up selling your investment to fulfill the balance of your loan. If you do have a stable job, then there's nothing wrong with that as long as you can pay your debt. You can simply think of it as you are doing DCA, though you purchased in a lump sum using the money you loaned.
On the other side, it is also correct. If you take a loan and do not use it on something like business to provide you with a passive income, you will never be able to pay your loan. You will only make yourself have a hard time until you settle your debt. If you use it somewhere and make it as your passive income where you can pay your debt and an additional income, that would be also good.
You both justify your opinions, it's just a matter of how you consider things like how you take an action using your own method, the timing of your investment/loan, or how can you handle the risk of your decision.