Is Bitcoin a Savings or Investment vehicle?

Bitcoin is nicknamed Digital Gold, because of its similarity to gold in terms of hardness or difficulty to produce more of and its limited (finite) supply. Gold has been used primarily as a savings vehicle since the collapse of the gold standard starting in 1914. Bitcoin at current times is seen by most of the public as an investment and a high-risk asset, which makes logical sense given its high short-term volatility.

In the Fiat Standard written by Saifedean Ammous, he differentiates Savings from investment by writing “the most important distinction between the two is that investment inherently involves more risk”.

From a risk-analysis perspective, would you be more likely to classify Bitcoin as a savings or an investment vehicle? Risk implies uncertainty about deviation from expected outcome, so if one were to expect that Bitcoin behaves according to its traditional market behavior but over the long term steadily goes up as attributed by its inherent value (high level of security, decentralization, hardness, and salability), would this still be classified as taking on risk?