I agree with your take on it.
At least the dollar does have the U. S. Government behind it, and we even view that unfavorably at times.
What does Bitcoin have behind it. I’ve seen some proposed backing from time to time, but it always seemed as you say, “A mirage...”
Since you don’t have any holdings, from what I saw last week, I’d be sitting in a pool of yellow water if I had holdings going into the next few weeks.
MAGA!
Investing in Bitcoin is still trading in currency, and that is always risky. It needs to be accepted more places before it can be a true currency. Until then it’s tulip bulbs.