It has value largely because a lot of people think it has value. Like other commodities, currencies and tradable stuff, if people are willing to pay for it, then it has value. If people are willing to accept it as payment, then it can be used to transfer value. If people are willing to buy and keep it, then it can be used as a store of value.
That’s definitely what I believe in too. But we have not seen the future, nor can we predict it. We never know if a new rule comes up or it gets all hacked.