To be fair, it's both nowadays, some people can spend Bitcoin as for payment and using for gambling transactions while others are holding into it as digital gold. Bitcoin is diverse right now, it can be used in everything, that's why the growth of Bitcoin is pretty consistent is because of the infinite use case it can give.

Also if you're worrying about the fees, there are L2 that can give you lower fees and can transfer BTC is just small fees, so people are free to do with it anytime. So yes, again and again, bitcoin have various utility and it's not specifically used for a single usecase only.