I think that bitcoin is currency I mean cryptocurrency not only currency what means that bitcoin price is fast changing what is good for investing in bitcoin so I dont think that we can call bitcoin investment when cryptocurrency=investment.
It seems to me that the rapid change in prices can only scare off investors in bitcoin. Such jumps is dangerous. The price may increase and an equally fast fall.
While the volatility on bitcoin price may scare off those investors that prefer to take safe investments for many bitcoin offers the opportunity to earn big in a liquid market that moves extremely fast and give to them the best chances of making money fast
Indeed, Bitcoin is not an asset which would draw in many Warren Buffett style investors
But Warren Buffett, for all his wealth, knowledge and wisdom, is certainly not the only investor out there, nor he is the only type of investor existing across the markets. While Bitcoin doesn't quite scale up to George Soros caliber, he would certainly love Bitcoin and the volatility it offers. While Buffett is more of an institutional type of investor, Soros is an outright speculator. And for the latter type of trading folk, Bitcoin is an excellent tool and its volatility attracts these dudes like shit attracts flies (or like honey attracts bees, if you are not quite happy with that comparison)