The vast majority of bitcoin "investors" do not posses any bitcoins. Instead, they give their money to somebody in exchange for a weak, unregulated, unsubstantiated promise that they will actually hold their bitcoins and will not run away with their money. This defeats most of the alleged benefits of bitcoin: decentralization, anonymity, etc.

Basically, it is a useless fad people invest in exactly the same way as they invest in PEZ dispensers, rare beer bottle caps and post stamps.

Some people argue that bitcoin makes a great post-apocalyptic currency, but to me such ideas seem naive.

BTC has no value as an exchange medium. The only real, pragmatic usecases are fueling ransomware, drugs and illicit cross-border transactions.

So: a wasteful, useless thing we all should leave behind.