Even that is an extremely charitable interpretation. From what I can tell, Bitcoin seems largely to be an engine for fraud: fake value is injected into the system via dollar-pegged tokens like Tether, retail "investors" pile in to chase rising asset prices, and then the bottom drops out, amidst "liquidity issues" at major exchanges which prevent people from pulling out at the top. Or at least that is what happened in 2017.
I don't see any evidence that institutional wall street investors are adopting bitcoin in any real way.
There does appear to be some evidence of this, but again, you can be an institutional fund manager and still speculating.
It's simultaneously described as a currency for exchange, a store of value and a speculative asset, but logically it cannot be all of these things simultaneously.
As an example, it fell quite sharply the other day while gold and stocks treaded water.
Is it going to $1 or $1 billion? I have no idea. But whatever is, it's certainly not reliably static.
Why would I want to pay capital gains taxes on things I order online? There is also the obvious problem that spending your Bitcoin is foolish because it is deflationary. Remember the Bitcoin pizza?
Again, there are some institutional investors dabbling in this, but I would like to see evidence that this is more than a rounding error in terms of Bitcoin's total market cap.
I don't see any evidence that institutional wall street investors are adopting bitcoin in any real way.