investment of over $14 billion
See, that is the problem right there. Many people here are very unsophisticated. They can't discern the difference between '$14 Billion investment' and '$14 Billion valuation'.
Because these very stupid people can't understand these very different concepts, they just keep on buying, and buying. Thus, we have a 'natural Ponzi scheme'. Bitcoin offers no utility nor function to anyone. It is simply a 'buy and hope' speculator's tool. There is no revenue. There are no earnings. It is just a more inflated 'market cap' day after day. A total Ponzi scheme.
Well the same could be argued about a parcel of land that your family has owned for generations. They might have bought it for $500 a hundred years ago but now it could be valued at $1 million. Zero investment has gone in and it has not grown in size. However, it does not make it a Ponzi.
Meanwhile the same acreage in some desolate par of the world is worth pretty much 0 and has not gone up in value at all.