I'd say it is the very beginning of the stealth phase and the "take off" has not yet happened.

The argument for this claim is rather simple. Institutional investors have not even dipped their feet into Bitcoin. Do not mix "media attention" to Bitcoin as investment to "media attention" to Bitcoin as a fringe technological and monetary curiosity. Some especially smart and reckless VC's have just started to push some pitiful amounts of money into Bitcoin economy which is by definition "stealth phase".

Therefore, if we accept the wisdom of the classic chart above we are in smart money/stealth phase.