Over its history more money has been pump into bitcoin than come out. This is an inherent from the way the system works because unlike stocks, bonds, property etc there’s zero inherent income generation from dividends, rent etc. Making it on average across all transactions past and future a bad investment as miners have real world expenses.

The common argument is the current value makes up for this, but trying to actually liquidate that value would require new buyers. Eventually someone gets screwed, but hey the price might go up even more…