When real monies start getting converted wholesale to digital currencies that is when to buy in.
The value of a bitcoin is its authenticity...like a non counterfeit dollar or real money. None of it has any real intrinsic value beyond what we ascribe to it socially. We don't "need gold". The governments say you do and create a system where gold has value.
Once the governments place authority behind the authenticity of bitcoin its now just proof of ownership of the pie of coins in circulation and if governments could control the production of coins they would jump on it in a heartbeat because it's way harder to make fake coins than fake pennies. It's also cheeper to store and move around and trade once it's in circulation and way more durable.
As it stands exactly as it is now its virtually play money without a regime change or until governments are the only ones allowed to authorize new coins.
Hope that helps.
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