Can someone please explain to me the logic in treating Bitcoin as an investment vehicle? I get that fiat currencies are traded like equity, but this is not that

Can someone please explain to me the logic in treating Bitcoin as an investment vehicle? I get that fiat currencies are traded like equity, but this is not that. I also understand that there is a huge potential for short term gains, but the risk is just as great for a total loss. Bitcoin is a means of transferring wealth. It is a tool, not a commodity. When are people going to stop this speculation and treat it as such?