Bitcoin is not an investment, it's best understood as a hedge against government manipulation and failure
Bitcoin does not fit the usual idea of investment
Bitcoin does not see its price rise or fall based on profits, because there is no profit, and similarly there are no products or assets owned by bitcoin. It is a chain owned by no-one, beholden to no-one and for the benefit of everyone.
Some people go too far and say that bitcoin has no intrinsic value. This is complete nonsense since that would be like saying the interac system has no intrinsic value or the telephone system has no intrinsic value.
What is Bitcoin's core principle
As its core principle, bitcoin is nothing more than a community coming together to designate an easily exchangeable store of value.
Rather than following government in designating pieces of colored paper with pictures of dead dignitaries as having value, bitcoin designates electronic "coins" .
The bitcoin phenomenon was born out of the U.S. financial crisis and as a reaction to the unwieldly money printing, devaluation of currency, skyrocketting debt and bailouts that were undertaken by governments. There was considerable anger at what was perceived as manipulation and unfair practices.
The idea of removing control of money from a central government has a far wider need than just as a reaction to the U.S. financial crisis. You only have to look to the rampant manipulation of currency and citizens in countries like Venezuela, in many countries in south america, africa and beyond to see the more dire examples.
Even beyond the dire examples, the world's leaders have been taking on unprecedented levels of debt, that may truthfully never be capable of being repaid. That continues to devalue currencies and one day could threaten many currencies on a larger scale.
Crypto is a hedge against government manipulation and currency devaluation
Crypto is a hedge against these issues since its financial systems are largely beyond government control. They are further aided by blockchain technology, which creates a practically unchangeable list of who owns what and prevents the amount of currency from being manipulated (by issuing more etc) - since everyone would see it on the list.
There is no comparison when bitcoin stands beside gold or other physical assets. Physical assets are subject to nearly indecipherable counterfeiting, are difficult to transfer and are easily subject to seizure by government or others.
Should you "invest"
Bitcoin, as described above, is not really well classified as an investment. Purchasing bitcoin is buying into a community that has agreed to ascribe value to it in order to permit ease of transfer, but moreso to protect against manipulation and degradation of currency.
The increasing price to purchase bitcoin is not reflective of any increase in the value created by the tech, but rather it reflects an increasing adoption curve and the network effect that increases its utility.