I agree with you, In fact, if you invest in Bitcoin in DCA, The amount of benefit it will give you, without DCA It cannot be obtained in any other way. When Bitcoin exceeds $200K - $500K in the next cycle, then DCA investors will undoubtedly benefit the most. In fact, if DCA is continued continuously in the long term, an investor can benefit more than his expectations in the future, That's why for Bitcoin investing (logn term), DCA is the best investment method.
You speak as if DCA is one very specially investment of its own but it's not, every Bitcoin investor doesn't have to use DCA before they become profitable, I am not saying that the strategy of DCA is not good, it's good but let's assume I have $1 million dollars and I invested it all at once into Bitcoin and held it for twenty years and someone else started to DCA on the same month that I invested $1m, assuming he spends $10k every year on DCAing, in 20 years, he should have spent $200k total capital, you can not still compare his profit with mind. Because of my high amount that was invested, I still stand more chance to get more profit.
Since I don't have $1m right now and I am yet a student, DCA is beneficial for me because I will definitely buy Bitcoin only when I have the capital to buy and spread it into partitions to target different buy price.
Your point is correct in terms of DCA being more practical for people who are investing as their money comes available and they do not necessarily have the option for lump sum.
your example is quite a bit extreme, and surely lump sum can be any amount of extra money that you get. So for example, if you are usually buying $100 per week, but you suddenly get $5,000, that would provide lump sum opportunities.
A guy can have lump sum options at the beginning of his investment or lump sum opportunities can come at various points down the road, yet even a large number of folks who suddenly have a lump sum amount come available, they still might choose to defer some of their bitcoin buys with the available amount to employ DCA as a deferral method and/or buying on dip as a deferral method.
The buying on dip may not end up triggering the buys and the DCA might cause comfort to not put so much value into bitcoin at any one time...but yeah, there is quite a bit of discretion regarding how to invest into bitcoin, even if a lump sum is available, and surely guys who ONLY have small amounts of discretionary income each paycheck, they are likely going to find that DCA works a lot better for them to manage their income/expenses and perhaps even their psychology about how much bitcoin that they want to buy weekly (or whatever other time period they might choose).
Why many people value the DCA strategy more compared to others is because every class of investors can do the DCA but not every one can lump sum, like he said, he can decide to invest $1m for a full year and someone who invests $10k won't make more profits than him that's true but come to think of it, the number of people that can invest that heavily at once are far more lesser than those who can't moreover the majority who are not that wealthy would rather go for the DCA and that's why it may seem as though the DCA is more popular and mostly used by investors compared to others.
You're right Jay, even though someone starts with a lump sum at the beginning of their investment they'll definitely switch to the DCA with time and still lump sum when opportunity arises, let's take Saylor for instance he has enough cash to just buy at once and hodl for the year but he still does the DCA and at some point was even buying daily, the DCA gives an opportunity to buy at a cheaper price on different intervals without waiting for the dip to occur, that another advantage it has compared other strategies.