The Kuwaiti Dinar is the top currency in the world, and bitcoin was created to replace fiat. My question is: How will
BTC price increase in value if people are buying it as a store of value (as opposed to using it on regular transactions?) And why are Kuwaiti's buying
BTC when our currency is the top in the world? It just makes no sense to me
From what I see in charts, Bitcoin price usually increases also compared to KWD. For example look at
this chart (google didn't give me a better one) and change it to 1 year or 3 years to see the bigger picture.
So people buy it as investment, on the logic that you buy "now" 1000$ worth of Bitcoin and at some point later you can sell it for 1500$, 3000, or 10000$. If you're lucky.
Bitcoin supply is limited. This means that as long as there's demand for it, as long as people buy it, no matter why, the price
should increase overall. (of course, it doesn't necessarily means it will)
Bitcoin's use as a currency is still limited and I hope that it won't take that long until it'll get much better. If you look at it only as currency, you have missed half of it. Also, it's not that sure that Bitcoin will replace fiat. That won't be easy and may not be necessary. But it can work very well in parallel with all other currencies.
All in all, it can make you earn money and it also can make you lose money, so you better research more. Don't invest what you don't afford to lose, since the price goes up and down like crazy. Also, if you get easily scared by the price movements (even if you did invest money you afford to lose), then you better just stay away.