The store of value function leads to bubbles for houses when houses are used for money.
Bitcoin can be considered a bubble for the same reason. The exchange value part of the good is the bubbly part. The bitcoin bubble may never deflate because it is the best money.
Bitcoin solves the problem with housing bubbles. There is never a tooth-paste bubble - because nobody uses toothpaste as a store of value.
The fact that bitcoin has been so volatile with lots of bubbles and crashes makes it very bad money. You want money to be stable. Yes, the bitcoin bubble may never deflate, but it easily could. Right now, bitcoin is acting much more like a speculative investment than a currency.
Edit: I also think that bitcoin is likely going to have a lot of problems with ever becoming stable because of its limited supply.