It's not (just) that. Gold has an intrinsic value because you can actually do something with it; it's used in semiconductor manufacturing, jewelry, etc. When yo

It's not (just) that. Gold has an intrinsic value because you can actually do something with it; it's used in semiconductor manufacturing, jewelry, etc. When you buy a gold bar as a store of wealth/value, even though your specific gold bar is probably not going to be used for anything, it holds value because there are other bars of gold just like it that are being used for something. The same holds true for Bitcoin. The one (and only one) use case for Bitcoin is censorship resistant transactions. There will always be some subset of people that use Bitcoin as a legitimate way to transact; black market trading, drugs, people that live in countries that have unstable currencies, etc. This isn't a significant number of people, but it's non-zero. As long as there exists that set of people that legitimately use Bitcoin, Bitcoin has some intrinsic worth.