Seems many people treat bitcoin like an asset given how much it's gone up over the last year or so. But some academics disagree with that assessment. If it is to be treated as a currency, it will need to stabilize to be of use.
https://www.c[Suspicious link removed]m/2017/10/24/nyus-dean-of-valuation-says-bitcoin-is-a-currency.html
Your comment is very good. I agree that Bitcoin is a currency that needs approval from the government of that country. If accepted, Bitcoin must fully comply with legal requirements, it is obvious that Bitcoin will be the currency that is created, used, and circulated legally. But if Bitcoin is only done through personal transactions without government (non-taxable) government, this is a kind of asset.
Well what makes it not a currency is the lack of stable valuation which is caused by a fixed supply cap and block halvings. This ensures that if there is an increase in demand there will always be an increase in price. Deflationary measures do not provide incentive to actually spending Bitcoin to purchase goods but rather to hoard and speculate. In its current format, Bitcoin will never I repeat never be a currency but rather just a speculative asset.