But they are hoarding with the sole purpose of selling it at higher price to make a profit .. But this dynamic was studied since the beginning, bitcoin has a strong appeal to bubble, for the reaons that the price is completly flexible,
But the two are completely related, hoarders only hoards because they are also traders and waiting for the good moment to sell with a profit. They don't just hoard to have a nice bunch of shiny coins on their wallet to put on their shelves as a decoration.
Commodity can also have long term value, think about furnitures, maybe cars,
you dont buy furniture or cars on the commodities market.
you buy beef, oil, wheat. raw materials.... which later (after market) become products (assets/stock)
you mention cars.. so steel, lithium, oil would be the commodity, which later after market is used to build a car
Bitcoin is not a commodity maybe, but the point is that in the context of asking if it's an investment like a stock, the answer is it's more like a commodity, because it's value it's mostly derived from utility value. It's the only way it make sense.
bitcoin is a new asset class that has many functions. it can fit on the forex(currency) market. it can sit on the investments stock/shares market(ETF)
but it wont be a commodity in terms of a raw material used in production of another product.