Should there be a collapse of the US economy, or global markets stop using the dollar standard, or sanctions placed on US banks by other countries, a store of alternative currency is good to have.
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Dunno, just make sure your stop-loss orders are set so you don't get burned when the dip comes.
temporarily increase the price so tech-bros (re: Elon) can sell at a massive profit.
Actually it is similar to gold reserves (bitcoin is better) without advantaging competitor nations that have gone in on gold reserves already. There is an energy/mining motivation aspect as well as a populist widespread participation.
In terms of "real purpose", US debt can grow much more unsustainably, and there is something to fall back on when a default occurs. The tech bros that helped Trump do want to use other crypto projects for fintech and other innovation, rather than pump it and dump it.