Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars.
Rather, Bitcoin appears to have value for the following reasons: It is popular.
In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin.
The value of bitcoin is determined by the strength of its users, whether buyers or sellers, the same as trading goods in the real market, such as gold and silver trading. In terms of investment, bitcoin's better than gold and silver because the value of bitcoin's more volatile.