https://sheldonbrown.com/brandt/presta-schrader.html
In the past, sports and racing bicycles used Presta valves because they are slender and enabled racers to inflate tires with a simple pump with attached chuck (pump head) and no hose. Presta valves are easier to pump than Schrader, because they have no valve spring to overcome. Although a valve depressor for Schrader valves can alleviate this, it requires a check valve, impractical to house in lightweight pump heads.
The small diameter of the Presta valve requires a smaller hole in the rim, whose size is important for narrow rims where cross sectional strength of is significantly reduced by a stem hole. In narrow rims, clincher tires also leave insufficient space between tire beads for larger Schrader valves.