With proper care, it is fully capable of living in water only, but it would show its appreciation if you move it to a solid grow medium asap. It prefers a fast draining medium you can keep moist but never wet or soggy, and enjoys warm temps and high humidity.

The roots that form in water are very different than those that form in a solid medium, this, because water roots are full of a highly porous tissue (aerenchyma) that allows diffusion of oxygen essential to root function through plant parts above the water line into the roots. These 'water roots' are poor at absorbing water and brittle, making the transition to a solid medium more difficult than it needs to be. It is better to simply root the cuttings in a good potting medium.

Al