This is exactly true. If you are in physical danger there is no reason to try to protect you money/bitcoin.
Money can be replaced, your life cannot.
I have to disagree, at least partially.
People "refuse to negotiate with terrorists" for a reason.
And that reason, is that if everyone just gave in, terrorism
would run rampant. By setting a precedent of refusal,
the motivation to try to steal is diminished and everyone
is safer.
Now, if someone demands my (fiat) wallet and
wields a weapon, i'll hand it over.
But I will not turn over all my cold storage to terrorists,
even if they threaten my family.