> The key difference between an asset and investment is that investments produce returns.

Right, but an asset can go up in price and stay there if demand increases and/or the currency the price is denominated in is losing value over time. Especially true if supply is limited.

I don't expect BTC to stay at $17000 - it could go down or up, and I wouldn't be the least bit surprised if it's currently in a bubble that pops. It might then go to near-$0, or it might proceed to regain those levels and continue even higher over time, depending on how demand evolves against the ultimately fixed supply. I remember $500 for 1 BTC seemed insanely high at the time. $675 must have seemed crazy for gold in 2006, but I don't expect it to return there again despite the intervening ups and downs.