Bitcoin is a virtual currency, in that it exists only online. That is opposed to fiats like dollars and euros which also have a physical manifestation in the form of coins and bills. While many were skeptical at first, Bitcoin is now widely traded and talked about, and from a currency perspective, does appear to be here to stay.
From a comparative standpoint, however, some would argue that Bitcoin is fundamentally different from the Canadian dollar, the US dollar, or other currencies issued by the government, in that it’s more like an asset than a currency, with its value exclusively dependent on what it’s being traded for on the markets. That being said, in reality, fiats are essentially being valued that way as well.
The difference is that Bitcoin, like most cryptos, is mainly purchased for investment purposes, as there are still relatively few places where you can use it as a payment method. For example, you would be hard pressed to find a grocery store where you can pay in BTC. On the other hand, Bitcoin gambling has become increasingly popular over the years, where it is treated like real money, i.e., the kind of cash you can buy stuff with.
So overall, we’d say, Bitcoin is most certainly real money, though its practical uses beyond gambling, are still evolving.