Is Crypto (BTC in particular) a currency or an asset?

I only have a basic understanding of the crypto space but I would like to learn as much as I can. It seems that btc was envisioned to be a potential future currency that could be used by anyone around the world without the need of a third party provider, yet most people seem to consider it an investment. As in, they plan to hold it until it goes up x%, like you would with a stock, and then cash it back out for fiat. This seems to be a bit contradictory to what the whole crypto space is supposed to be about. Can anyone clarify if I am wrong in my assumptions?