Price will follow demand, the demand is increasing.
Yes, however the demand for
both is increasing; it's just that they're demanded for different reasons. I just don't see how you notice that the demand for medium of exchange is higher than for store of value.
PayPal is one of the examples where demand for a transaction processor is visible, demand for store of value is much lesser but Monero takes that cake too with privacy.
VISA/Mastercard are another.
There's no reason to go back to Bitcoin when you switch to Monero, at least not for me.
What if the population decreases rapidly in the future, while Monero will keep churning out new coins in eternity?