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What exactly is bitcoin being spent on?

Even if Bitcoin is spent on nothing, it could become worth as much as gold eventually.

It could even become worth as much as the moon eventually. Your comment is pretty void of anything but hype.

My comment is true even if I didn't go into a huge explanation of why.

Your comment is nonsense even if you had gone into a huge explanation of why. Hell, I thought it was sarcasm at first.

No it's not. The market offers the price it's willing to pay for it. If what you were saying were just 'true', the price would already reflect that.

But it's only really worth whatever you actually spend it on, it is not?

It might become the world's new way of storing value (like gold), instead of a typical currency.

That seems reasonable.