With Bitcoin (and crypto in general), ignorance is bliss. If you analyze it properly, you would never invest in it. Crypto's value is the ability to transfer and hold it anonymously and that it is relatively scarce. That's kind of like gold, without the physical existence. Or perhaps like art, since there seems to be some "pride" or enjoyment of ownership also. Or maybe tulips. The main ultimate use/benefit of crypto would seem to be for criminal activity.
It's no surprise that ransoms are now being requested in crypto. (ask Garmin).
Pablo Escobar is probably kicking himself in the grave saying 'why wasn't this around when I was alive and in business".
As far as being a currency...it is not. For it to be a currency, it would have to be a direct price reference to something, and particularly some government would need to allow taxes or fees to be priced by it. Now, a number of institutions and vendors "accept" it, but only by converting its value to an established currency. So you can buy stuff with Bitcoins, just like you can buy stuff with airline miles. That doesn't count.
Crypto's popularity could end up being their undoing. Governments aren't thrilled about it. India is working on a bill to ban cryptos. Yellen sees it as a threat. Ultimately, we will have digital currencies, issued and controlled by governments. Most likely not fun at all. (and if we do...will we need banks?)
In any case, back in 1979, I joined my Dad in buying some gold. Why? I don't remember, but Dad was always a gold and silver bug. Of course, for those who remember, late that year the Soviet Union invaded Afghanistan and gold prices exploded. We tripled our money in a few months. Had we researched Gold (production costs, uses, etc.), we would have never made that trade. Ignorance was then and still is bliss.
For those on the rocket, enjoy the ride.