Bitcoin is an asset. It is hoarded for its future value, like an asset. It is taxed on capital gains, like an asset. It is borrowed against, like an asset.

Each transaction in Bitcoin requires reporting to the tax authorities. How many transactions an person or business makes per day? How many per year? Each one is a single line on a tax filling.

Bitcoin can't be money as long as it is vue as an asset by its users and governments. It can't be money as long as each transaction is a capital gain tax event.