I have a question that I've asked other crypto traders, what do you think of the Warren Buffet theory that diversification (too much) is bad for a portfolio ?

The reasoning is sound, all the 'wins' cancel out all the 'losses' on average, so you end up never increasing the account.

Someone else I spoke to (crypto) said he was just hoping that one or two would 'moon' at some point, and make up for all the ones that lost.

Not so sure I agree with that philosophy, I think I'd just rather focus on winning on a handful or assets that I know well, rather than gambling that one will make it big in the future, enough to make money anyway.

What are your thoughts ?