And here we return to the currency vs. store of value debate.<p>In terms of currency, it goes back to utility. At the moment, Bitcoin (or almost any other crypto) has no or limited utility. By that I mean it is pretty well isolated from the real world – while you can pay for some things with it, you cannot pay for even a significant portion of things you might spend money on in a given day.<p>Some merchants accept it, that's true, but ya, the idea that you can move your money into BTC and buy groceries, a coffee, pay your rent, buy lunch, pay for the taxi, etc are not possible now unless you really go out of your way. In my neighbourhood (capital city of a north central European country) you can buy coffee at one place with Bitcoin but there's nothing else around to use it on.<p>And if the merchant takes it, then what? So now they either use a service that accepts BTC and takes a cut of it to translate it to fiat or they let you transfer BTC to their wallet as a way to pay, so they still have to move it into fiat to pay their bills, employees, etc.<p>And as a store value, it's pretty volatile. It's been bleeding since January.<p>Don't get me wrong, I believe in digital money and the concept of Bitcoin, but I think there's still a long way to go. It's not inconceivable that it hits 0.