A trillion dollars of market participants disagree with you, now including institutions and banks I happen to agree that Bitcoin has very dubious utility, but

A trillion dollars of market participants disagree with you, now including institutions and banks I happen to agree that Bitcoin has very dubious utility, but I suppose it has nailed the "store of value" use case, whereby you can send it anywhere without any friction, and also if you need to, say, escape the country during war or a natural disaster, it's much easier to remember 12 words than try to sneak gold through customs, while the cash you store in your house might be underwater. Bitcoin for many institutions is a digital commodity to diversify for tail risk etc.