Bitcoin has value because bitcoin can also do what money can do. It can use as a form of payment where people find it useful in terms of buying or selling. Its value can be determined depends on how many people are willing to accept it as payment, the more people adopt it, the more its value will increase.
Very true. That was the dream of Satoshi. Now, there are Bitcoin ATMs in African countries like Nigeria, South Africa, Ghana. Other ecommerce and shops also accept BTC as form of payment. With all these accomplished, Bitcoin will certainly have value. The adoption rate is organic and that is a good thing for the industry now.