How do you see a transition from $0->$1/1337(first price of a bitcoin)->$20000 in 14 years could have happened with less volatility?
I suppose my confusion is the difference between a currency and an investment,
High volatility is a sign that the market is finding it hard to value an asset, the value seems to be "what people think it is worth".
We can't really point to asset backing, revenue streams, market share growth, profits or dividends for Bitcoin.
For Tesla, those of us who like to see hard numbers are happy.
As mentioned previously, in the case of fine art, if there is a painting by a fine artist, with solid providence and a long history of value appreciation, and it is also a painting the buyer happens to like, they are reasons to buy it, as opposed to some other painting.
But the bottom line is Bitcoin isn't my thing and will never be my thing, I don't really care what others think it is worth, if that apathy costs me the opportunity to make money, I don't care. But I'm not critical of those with an interest, and if they make money, they deserve it.
I would like to see crypto build a better alternative to the banking system, because that is something I would use.