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@t-v
The key characteristic of bitcoin is its volatility. It makes it unattractive as a currency, and superficially attractive as an investment proposition for muppets who think they can time the market.
The price of a currency is dictated by demand for that currency, which at a fundamental level is connected to the need to complete transactions in that currency. Albeit there are a lot of complex factors overlaying that.
In simple terms, if you want to buy goods from a UK company, which in turn needs to pay its taxes (and probably most of its suppliers and employees) in sterling, then you need to buy sterling to buy the goods, which at sufficient scale would push up the price of sterling relative to other currencies.
I don't think you can say the same for bitcoin. What are the fundamentals that underlie the price?