Quite an interesting thought regarding bitcoin and its current state. However one must remember that even before official financial institutions, organizations and firms existed, gold was around, was used as money in almost every country available and it, too is deflationary in nature. Bitcoin, while deflationary, still has the tendency to lose value in the short-term, and the long-term appreciation of value isn't guaranteed either, so assuming that bitcoin will always appreciate in price is already wrong. It's a usable form of money but not as excellent compared to fiat currency that we have today, but then again, it's easier and more convenient to use than gold as money since you have the hassle of carrying gold wherever you need to go and most shops would need to cut the gold precisely just to get the value that they needed. It doesn't offer easier divisibility unlike bitcoin and fiat currency, so again, gold would still be a worse form of money than bitcoin.