Okay. So if bitcoin value rises, it would be a good thing for miners but a bad thing for people who want to invest fiat money in BTC?
Am I not seeing something? [Bitcoin value = exchange rate]? or am I mixing stuff?
If you're buying btc as an investment, then you're assuming the exchange rate will rise (more fiat per btc) after you invest. It's a long position.
If you're purchasing btc as a credit card alternative (buy small amount when you need them, spend immediately) then changes in the exchange rate should have minimal effect.