Why does Gold have value? Everyone just agrees that it does, and once that has been true for a while you can trust that it will continue to be true tomorrow and

Why does Gold have value? Everyone just agrees that it does, and once that has been true for a while you can trust that it will continue to be true tomorrow and beyond. Bitcoin seems to be entering that domain, at least in my opinion. Like gold it can't be inflated on a whim, and it's a good reserve store of value that can be stored and sent anywhere in the world much more easily than gold. There's definitely a vocal subsection of the crypto community that wants to spend BTC or some other cryptocurrency for everything they buy down to a cup of coffee, and FWIW I agree with what you're saying and I also don't understand that line of thinking. It solves no problem for me, buying a cup of coffee in a developed country. But like gold, BTC doesn't need to be used for that purpose to be useful. And then of course, it's also an alternative store of value for people in other places who can't trust their own government's currency. But I think even this (very real, very useful) use case is dwarfed by its use as a store of value in rich countries which is the largest factor in driving its valuation, since the majority of the world's wealth is held in rich countries.