i can hold it much like you can hold a bank note.

but the better use of holding bitcoin is that i can back it up so that if i lose one copy of the key i can retrieve it elsewhere.
if you lose your bank note.. its gone.. and nobody accepts a copy of a bank note (counterfeit)

bitcoin does not need middle men custodians to secure bitcoin..
bank notes need banks to hold it to protect it against loss by giving it to them in custody

bitcoin does not need insurance against bank failure, the decentralised nature means it doesnt need banks
banks need insurance but even when banks fail the insurance is not invoked. elitists prefer other methods which cause customer value loss just to prevent other elitist loss

i do not need someones signature or authorisation to pay them. they do not have to be awake when i pay them.
with a bank note you have to give it to them, meet them
with a bank account the bank has to phone you to ensure you are the real person making the transfer. and are limited to how much you can transfer without question

i can move bitcoin to another wallet i own without limit or restriction or permission or question
try an move bank notes from a bank account into your wallet. ATM limits are $500, bank teller limits are $1000 before being questioned, delayed, limited