It has proven neither to be a store of value nor medium of exchange though it is being used extensively for criminal activities.
Most of it is tax and sanctions evasion.
It completely ignores the benefits of Monero. Crime exists. Its not going anywhere. It is not societies job to make the crime fighter's job a walk in the park. Crimninals use cars to commit crimes, we don't outlaw cars. They use masks, the store sells masks.
The benefits of a global, decentralized and truly private and free medium of value exchange would be massive to the average person, but deterimental to those in power so they must use FUD to squash it.
There's a reason people still use USD, EUR etc. and not fractional ETFs to pay and get paid.
There is a reason people still have things like checking and savings accounts and CDs.
That’s exactly my point.
Bitcoin is a speculative asset: it has very high price volatility. It is not a store of value in the proper term.
Bitcoin lost 10.8%
Gold gained 60.0%
You just proved his point. In this example, bitcoin's volatility is closer to zero than gold's. Thus, by the quoted definition of "store of value", then in this particular time frame (it would be very different going back 5, 10, 15 years), bitcoin is the better store of value.