When you only have 1 bitcoin, you are a rich person than the other person who does not know about bitcoin. If the bitcoin price increases, that means your money will become big, but only if you sell your bitcoin. If you do not sell your bitcoin, bitcoin's money value will always change, and you don't own that money. But that will be different if you can use your bitcoin to buy something or pay for something.

We do not have to know the code inside bitcoin because we could only have that bitcoin and use it for our benefit. But yes, if there is no electricity, no internet, and you can not use your bitcoin, that 1 bitcoin will remain 1 bitcoin.