Some people argue all the time that Bitcoin isn't actual money and that it will never be used as actual money because it cannot fulfill the functions of money, starting with being a store of value. Their main argument being that volatility is so high that you are not only protected against inflation, but instead you are luckily to lose value.
I haven't been able to find if there is a measurement of the store of value "capability" of an asset, and I think that something along the lines of what's the proportion of time the price of an asset (in the current unit of account) has been above the current price could be an approximation to that. For Bitcoin, at today's price of around $17300, that'd have been about 25 months. Over 156 months since the genesis block, that'd make 25/156=.16, or a 16% of the time.
That doesn't look bad to me: if you converted fiat into Bitcoin during 16% of its lifetime, you wouldn't be "doing great" at preserving the value of your wealth, whereas if you converted during 84% of that time, you'd be doing well.
I think an index derived from that info could also take into account how long the price was a certain (or several) percentage above current value, for example, how long it's been above 20% more than the current price, or 50%, etc. I hope you guys get the idea of what I mean...
Does anybody know if such an index (or whatever economic instrument that could be) exists? I'm pretty sure somebody must have thought something similar before and maybe developed such a tool...