I personally think that BTC is becoming more of a store of value (like gold) than one that's used as currency (like cash). I think its deflationary nature is a headwind for BTC being used a currency and it's rise right now also prevents that. I know that I'm not spending any of my BTC at the moment with upside of holding much bigger right now
Yes, but I still believed that there are still people who uses it as a currency, because if everyone will just HODL on it, then we can't really enjoy Satoshi's invention, after all it is supposedly used to be a micro payment system.
IMO, institutional support should mean that these gains are here to stay as they're going to buy and store and hold - these guys aren't going to be in and out and can move a ton of money.
That is there plans, and it's good for the market though, store of value or currency, depends on how we see bitcoin will be, up to us, crypto enthusiast.