It’s money AND a growing store of value.

I spend and replace with bitcoin where I can, but that doesn’t go very far and if you are constantly swapping it into gift cards or fiat you’re losing 1% anyway to conversion fees. It’s an unpopular take right now (since we “should be filling up block space” and “making all purchases in bitcoin”) but I still prefer HODLing to paying 20% to Uncle Sam to make a large purchase.

If someone wants to risk a small amount of their stack with a loan, I don’t begrudge them that. It’s normal and they’re following rational incentives. Bitcoin will be financialized and we can bitch and moan about it and recognize some very real risks that come with it but we shouldn’t be a puritanical cult about it.