The notion of Bitcoin as an unstable commodity has almost reached the point of meme. While it is true that the value of Bitcoin tends to be fairly volatile, the cryptocurrency does not look to be leaving the market anytime soon.
The biggest reason for Bitcoin’s likely staying power is quite similar to our primary reason for championing precious metals. Simply put, as fiat currencies devalue over time - a near-certainty due to inflation - alternative stores of value become attractive to an increasing number of investors.
We are also becoming an increasingly cashless society as consumer trust in fiat currency and financial institutions wanes. A secure, pseudonymous peer-to-peer exchange may seem quite appealing to those who worry about inflation and bankers’ greed.
The bottom line is that there’s no reason to suspect that Bitcoin will flirt with insolvency in the near future - if ever.