Yes because he believes you should invest in things which inherently generate value. Note that gold has inherent value in its use for conductivity or jewelry,

Yes because he believes you should invest in things which inherently generate value. Note that gold has inherent value in its use for conductivity or jewelry, but it doesn't create any more, which is the same at bitcoin. In other words, I think he would argue that there's nothing "wrong" with buying gold, but you buy gold as speculation and not as an investment.