Why are people buying Bitcoin?

I'm curious to know, why are individuals and even institutions flocking to Bitcoin? It seems to have captured the imagination of the financial world, but what's the real draw? Is it the potential for huge profits? The allure of a decentralized currency not controlled by any central bank or government? Or perhaps it's the technology behind it, blockchain, that promises greater transparency and security? Could it be a combination of all these factors? I'm eager to hear your thoughts on this. Is Bitcoin a bubble destined to burst or a revolutionary new asset class? And where do you see the future of cryptocurrencies in general? Your insights would be greatly appreciated.