The vast majority of people who hold bitcoin now hold it as a store of value . Or most of it, minus the performative-spend budget. And those new to bitcoin will purchase it as a means to add to their store of value. Medium of exchange just isn't in the picture here, really.

Actually, you're kinda agreeing with me now, even though you think you're disagreeing with me 😃, as you keep agreeing that more people are seeing it as a store of value Imagine two people meet to trade something (a coffee, a car, a yacht, ..) for money Both are huge fans of bitcoin, and therefore have all of their wealth in bitcoin They will use bitcoin - not fiat - for the payment. The buyer of the item has only bitcoin to pay with, and the seller wants more bitcoin This is already happening in some parts of the world. Many people are saving more in bitcoin As I explained earlier, it'll be a slow process to get more people to see that bitcoin is the best store of value And once more people realise that, then the medium of exchange is inevitable