BTC can be exchanged to real money "USD and local currencies" and therefore I consider it real cash regardless of it being electronic or not.
besides that way bitcoin can stand alone, can be used directly to buy goods or other without direct exchange it to fiat money, bitcoin is real money
When we are all the late adopters seeing bitcoin as a real money to spend it wherever possible to pay with bitcoin. Whereas the early adopters (including Satoshi) are still seeing bitcoin as an investment.
But time will answer who will benefit more by using bitcoin either real money or investment.