Bitcoin is valuable because of the following features:
1. It is limited just like gold.
2. It is decentralized meaning it is not governed by the government.
3. It can be transferred directly thru peer to peer or from individual to individual.
4. It is easy to buy and sell. No bank to bank needed although it is prone to scam so be sure to know the person you are dealing with.
5. It has a low transaction fees, no hidden fees and is irreversible or no charge back.
6. The people were the ones who put value in bitcoin.
7. It is protected by inflation. Only 21M bitcoin will be circulated in the market.