How true is it that Bitcoin has failed as a currency? My Opinion

The recent claim by Governor Mark Carney of the Bank of England describing Bitcoin as a failed currency cannot be further from the truth. On the 19th of February, the governor expressed his criticism of the digital currency at London's Regent University claiming that Bitcoin has failed as a means of exchange and also as a store of value. Now how further from the truth can this be?

Eventhough many will agree with him that Bitcoin is more of an asset than a currency, Governor Carney's basis of argument that it is not a store of value has further flawed the argument. Bitcoin is a better storage of value than most conventional currencies you can ever imagine.
The value of Bitcoin has kept on rising for more than 7 years now reaching a peak of almost $20,000 for 1 bitcoin towards the end of last year, not considering some minor corrections and drop in values in recent times due to the different regulations from different parts of the world and also the rising interests in altcoins which also now take a sginificant market share in the total market capitalization of the cryptocurrency market share.
Ask those investors living in political turmoil countries like Venezuela and Zimbabwe how easy it is for their currencies to be devalued. Such people take solace in a currency like bitcoin which keeps appreciating in value and therefore to such people bitcoin is a perfect storage of value.
As a means of exchange, well the governor may have a point owing to the continous increase in cost of transaction due to a congested Bitcoin network. Experts believe that Lightning technology will provide a solution to this and I will discuss more about the Lightning technology in my next write-up. Let me know your take about whether Bitcoin is a failed currency or not in the comments below. Have a nice day friends