No one buys Bitcoin for any purpose except financial speculation, that's why there is no natural demand. It doesn't perform any practical function. The entire concept of "HODLing" is based on this idea: you hold on for dear life through the inevitable ups and downs because you believe the price will ultimately increase a great deal. You aren't holding on for any other purpose, nor are you getting any actual use out of the Bitcoin. You're just hoarding it.
Also, calling Bitcoin "the best performing asset in history" may technically be true, but only because it's original price in 2009 was essentially zero (imagine if you measured Apple, NVidia or Microsoft stock returns from an IPO price of zero dollars). There are also vanishingly few if any individuals who bought or mined Bitcoin in those early days who have been HODLing ever since. Most early Bitcoin holders understandably emptied their bags when the Bitcoin price was in three or four digits. If you look at Bitcoin's performance since 2017 (when it became mainstream and the year after which the vast majority of current HODLers obtained their Bitcoin) its price action has been impressive but nothing to write home about (many stocks have outperformed it). Certainly not in the realm of the "best performing asset in history".
You may object to what I wrote above and say that Bitcoin has a function as a currency. This is true in theory, but in practice almost no one uses it for this purpose, and indeed the more ardent Bitcoin maxis explicitly argue against ever spending Bitcoin. And with the existence of Monero and stablecoins, what little use case Bitcoin had as a currency has completely disappeared. The utilization of the Lightning network has decreased drastically in recent years as a consequence of this fact.
This is cope. Bitcoin has zero future as a currency or means of payment, a fact which was recognized years ago, which is why maxis had to pivot toward the "store of value/fiat debasement" argument. If you go back and look at what Bitcoin proponents were saying previously, there was no mention of Bitcoin being a store of value whatsoever. It was all about how Bitcoin was a great currency and how everyone should use it for payments (
Andreas Antonopoulos talked about paying his rent with Bitcoin. This was literally the predominant Bitcoin evangelist in the world at the time. Who do you hear advocating paying rent in Bitcoin today?)
I'm glad that your Bitcoin speculation worked out for you, but if you find yourself tossing large amounts of money at investment because you're convinced it will "save the world", you should recognize that you've probably been consuming a large amount of propaganda.
A combination of diminishing returns as the asset matures, reduced security on the network as mining becomes less profitable, quantum threats, or the development of new and exciting alternative investment options. It's very important to keep in mind that Bitcoin is a fungible collectible token, and like all collectibles, it's only valuable if people agree it has value. This is in contrast to stocks and real estate, which produce cash flows. I don't need you to believe that 10,000 shares of Exxon-Mobil have value: the dividend checks speak for themselves. But what are 10,000 Bitcoin worth? Only what you can convince someone else to pay, and they'll only pay if they believe the next guy will pay even more.
The ultimate proof of Bitcoin's worthlessness is this: if you owned every Bitcoin in the world, what have you achieved? What are they worth? You have spreadsheet entries in a distributed database. *golf clap* Why should anyone care? You have no claim to any real world assets.
Now imagine you owned every share of all 500 companies in the S&P. You're literally a multi-trillionaire and basically own the world. See the difference?
