People treat it like an investment because they don’t understand how it actually works.
People treat it as an investment because it has historically grown in value at a rapid pace. It literally couldn’t matter less “how it actually works.” What matters is the likelihood that its value will increase.
Exactly my point. People treat it like an investment for precisely that reason. But that wasn’t why it was created in the first place. Appreciating in value is a side-effect, not the main feature.
People treat it as an investment because it has historically grown in value at a rapid pace. It literally couldn’t matter less “how it actually works.” What matters is the likelihood that its value will increase.
Exactly my point. People treat it like an investment for precisely that reason. But that wasn’t why it was created in the first place. Appreciating in value is a side-effect, not the main feature.