As a medium of exchange, yes. As a storage of value, well, that's debatable.
Hear hear!
There appear to be some people who think that bitcoins represent a store of value ABSENT the acceptance of bitcoin as a commonly accepted medium of exchange. Nothing could be more preposterous. What value would it be storing?
The demand by others for bitcoins. That is exactly why gold is over $1200/ounce. Bitcoins are very similar to gold. If you understand why people pay so much for a yellow metal that sits in a safe and does nothing, then you will have your answer.