The reason people would want to buy bitcoin once it has grown out of its speculation is the vast marketplace of people and vendors who accept bitcoin as tender + the use of bitcoin as a hedge against the inflation of your local fiat currency.
It becomes another investment vehicle to diversify with.
Once the speculation upside is gone, you would use Bitcoin because it’s the best available reserve and settlement asset. What are your other options? Inflationary USD or Yuan? Few rational actors would prefer to hold those.
Investors don't have to choose between investing in Bitcoin or parking their money in cash.
The stock market, real estate, commodities, and other assets don't lose their value if USD inflates.
The narrative that the only two choices are to buy Bitcoin or lose out to inflation is a fiction designed to convince people to buy more Bitcoin. Bitcoin isn't the only investment option.
> Inflationary USD or Yuan? Few rational actors would prefer to hold those.
Evidence suggests otherwise.
lolz https://www.macrotrends.net/countries/USA/united-states/infl...
The real mystery is why the fed is committing to supply side economics in a demand starved economy. That's the exact opposite of what you should do.
Edit: I thought it was obvious, yet in response to comment below - theoretically to get real inflation one has to adjust the M3 for the growth of the total amount of "stuff" in the economy. As that growth is just 1-2%/year , the M3 shape is visually indistinguishable from the real inflation on any given time period of up to several years.
Hand-waving at money supply and "total amount of stuff" without reference to prices makes as much sense as arguing "Well obviously daily commutes were shorter in 2019 than 1919 because cars are much faster than horses. Just look at my chart of relative top speeds!"
> Inflation is the decline of purchasing power of a given currency over time.
https://www.economicshelp.org/macroeconomics/inflation/defin...
> A more exact definition of inflation is a sustained increase in the general price level in an economy. Inflation means an increase in the cost of living as the price of goods and services rise.
https://www.economicsonline.co.uk/Definitions/Inflation.html
> Inflation refers to a rise in the average level of prices sustained over time, which also corresponds to a fall in the internal (domestic) purchasing power of money.
Get in on the ground floor of this opportunity, then convince all of your friends to buy in, then they convince all of their friends...
Once the speculation upside is gone, why would anyone want to buy Bitcoin? That’s the real question.