To be honest, Bitcoin is a part of the wild crypto market and no one can predict the accurate future and hence there is no right or wrong answer to this question. However, considering the potential of Bitcoin/crypto industry and the growth of it since inception, I believe that this thing is here to stay but again, that doesn't mean I should invest my entire capital in it. I would go with diversification method and invest various parts in multiple sectors/forms rather than keeping all the eggs in the single basket. Thus to conclude, I would say that Bitcoin is one of the good ways to save money but not the single method.
Agreed. Saving money for OP's friend's son's future in bitcoin is a great idea, but because of its unpredictability, he can't put all of his money in bitcoin alone. Better to save some in the bank as well, and perhaps sign up an insurance for his son. Start early so he will have a bright future. Plus if he eventually inherited the bitcoins, he will have stable life financially for sure.