It’s considered a security; a representation of value for sure. Move it around all you want until you’re blue in the face.
But money still has to come out of an exchange and through some sort of bank. So it’s all a shell game that’s decidedly not anonymous or protected at all.
That’s why so many have concluded that crypto is a scam; we might as well be smuggling Egyptian grave goods.
Which is great when applied to rural areas of underdeveloped countries. But realistically it's more about financial infrastructure for criminals, outcasts, scammers and rich people in counties with strict financial controls
Bitcoin is completely useless as a currency since its value does not decline with time, thereby making it an investment vehicle instead of a currency. An asset can't be good at being both a medium of exchange and an investment. Only criminals use bitcoin as currency, and they do it because the alternative for them is moving cash around in suitcases.