I suppose if you treat Bitcoin as a mere asset, it's easy to think of it as some kind of tradeable commodity, rather than disruptive technology. Bitcoin the disruptive technology is much more than bitcoins, the commodity though.

If Bitcoin were an enterprise, its IPO would still be years away. Of course the charts look ugly compared established commodities like metals, agricultural products or foreign currencies, or publicly traded shares of the kind of established businesses whose shares are already traded on exchanges. The wild "bubble"-like price fluctuations are typical of new enterprises still in the domain of angels and VCs. By the time most new endeavors reach the point of public offerings, the bumps have been smoothed out.