I see Steem in terms of working capital, instead of an investment. I would love to see it take off and not look back. As I'm learning more about crypto, I know that it will be volatile. The volatility stems from the fact that people view it as an investment.
So when it starts to raise it will go up as people jump on the bandwagon. And when it starts to fall, people will get out to preserve their capital. This will trigger overselling.
I have also notice that most cryptos initially raise as bitcoin goes up. But when bitcoin exploded in 2017, some cryptos were going down, because people were selling so they could get into bitcoin or other popular coins.
The value of Steem is that it can actually be used. Most of the other cryptos are held for investment or traded. As long as Steem is useful, it will have a future.
I think steem is both working capital and and investment. This is what separates steem from tons of other currencies. Because it is in my opinion a store of value combined with major utility. That's why I think there's loads of potential for both use cases and investment.
Your point of view makes sense, that it is both. I originally thought of it as an investment, then once I understood it I considered it more as working capital.