but the social standing that comes with owning Bitcoin may also be causing investors to join the hype:
Bitcoins do not provide investors with cash-flows or other benefits, but the maximum supply of Bitcoins is fixed and so the price is driven by speculation on the potential demand for Bitcoin.
Your taking it too far for the investors to go for bitcoin just for the social status that it brings, that is not the main reason why they're jumping the hype train nor strike through their minds that they can gain greater social status just by owning this currency, I'm afraid you can gain such a good status as some countries are banning btc, haters wrote some negative views leaving a bad impression on people that may result in a bad social status.