Will Bitcoin primarily function as a store of value, or can it become a widely used medium of exchange?

TLDR: Bitcoin is already a store of value and it will be a medium of exchange.

Long Answer: Bitcoin is already a good store of value, and it will become a medium of exchange as well. It is already used as a medium of exchange, but the network is not yet ready to handle massive amounts of transactions. This will change with the Lightning Network, which is a second layer on top of the Bitcoin blockchain that allows for fast and cheap transactions. When this technology is widely adopted, Bitcoin will become a viable alternative to fiat currency for everyday transactions. This will take some time, but it is inevitable given the strong network effects that Bitcoin already enjoys.