I don't believe Bitcoin is as speculative as you are inferring. Yes, the price is volatile. But so are many other asset classes. Bitcoin has outperformed every other financial asset in the 21st century.

As far as guns and designer items, I believe it's far more logical to use the funds for accumulating Bitcoin. Not everyone will agree with me nor do they have to. Everyone is free to spend their money how they want as long as they pay their taxes. Nonetheless, I find it ridiculous to spend hundreds of dollars for a label or for more than one gun.

The lottery is criminal. It impacts the most vulnerable and while entertaining for some, can become an obsession for others. I believe the average American would gain more hope and return investing their lottery funds in Bitcoin.

Owning physcial gold always has fees on the buy and sell side. Miners have fees paid to employees, equipment, etc. Jewelry is going to cost much more than spot. Most ETFs aren't backed by physical allowing for manipulation.

Bitcoin has utility. It allows users to transfer a valuable asset anywhere in minutes for a small fee. It serves as a store of value. It also diversifies a portfolio. It can't be confiscated or frozen by an insitution and can be self custodied for free.