The speculation and trading of bitcoin, if it succeeds as a currency is a given, I think. But right now, some of its most vocal/visible supporters view it as a long term, buy and hold investment, and not just as a hedge.
With equities, no matter how far a stock price declines, profit is still there to be returned to shareholders. Other currencies don't provide the same kind of guarantees, but the backing of governments and inertia might be more valuable. Once people grow concerned that the only thing propping up the long term value of bitcoin is the person next to them believing in it, a quick reversal of sentiment, with ugly consequences, seems likely.
With equities, no matter how far a stock price declines, profit is still there to be returned to shareholders. Other currencies don't provide the same kind of guarantees, but the backing of governments and inertia might be more valuable. Once people grow concerned that the only thing propping up the long term value of bitcoin is the person next to them believing in it, a quick reversal of sentiment, with ugly consequences, seems likely.