This might have been true five years ago. These days most of its perceived value is due to the fact that people around the world trust it to hold value better than other investments available to them.

It sounds like nonsense because it is, but so is all of economics in a way.

people in venezuela have been experiencing double and triple digit inflation. two years ago it was 100/USD now it is 1000/USD. you could argue that gold is a good store of value for them but there are problems with storage of it and hiding it from corrupt state officials if you wanted to use it for daily purchases. contrast this with Bitcoin that literally anyone with a cellphone can own and transact with anyone else with a phone or computer. you can hide and send any amount of Bitcoin anywhere you can write down a string of digits. as we solve the scaling problems for daily transaction type purchases it will really take off big time.