Rather, Bitcoin appears to have value for the following reasons: It is popular.
that is just your opinion.
anything has value for its utilities. Gold has value not because it is physical but because it has usages. same as anything else.
bitcoin is a decentralized currency and that is its usage and what's giving it value.
I don't Think that it has a value not only because of popularity. yes It certainly has no tangible presentation like Gold but it has a value. You can purchase things and stuff from GOLD we as well as from bitcoin why? BECAUSE IT HAS A VALUE.