It has almost all of the same characteristics of gold, though in some ways more convenient. Bitcoins are rare, portable, fungible, divisible, durable, etc. The system is fairly anonymous, completely decentralized, completely free market. And for many, it's more accessible than gold/silver. Bitcoins have increased in value and are expected to continue increasing in value for some time, unlike government fiat currencies.
If you look at some of the charts from the trading websites, you can see they weren't all that valuable right away. But as more people learned of bitcoin and the way the system is designed with it's anonymity and security, as well as it's hard money qualities, it started to catch on.
A single U.S. penny used to be able to buy lots of bitcoins. At this moment, not even $1 USD can buy a whole bitcoin. It's generally expected that it will take many USDs to buy a single bitcoin before too long.
If you look at some of the charts from the trading websites, you can see they weren't all that valuable right away. But as more people learned of bitcoin and the way the system is designed with it's anonymity and security, as well as it's hard money qualities, it started to catch on.
A single U.S. penny used to be able to buy lots of bitcoins. At this moment, not even $1 USD can buy a whole bitcoin. It's generally expected that it will take many USDs to buy a single bitcoin before too long.