Successful currencies meet three criteria:
(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.
Most sovereign currencies fully meet all three criteria.
What about Bitcoin?
I think Bitcoin passes all three criteria for a successful currency. However, because it is still very young it needs more and more users, both from the business community and the community users themselves. At this point, it is not as widespread as it will be. As far as the 3rd criterion is concerned, it surpasses stability. Its value is fast rising to the point of people not using it as a currency anymore but rather as a store of value more than any other.