I agree with the gold comparison. Gold is priced far higher than it's industrial usefulness because it's seen as an value holding asset.

The properties that make gold a good value holding asset is:

1. It's rare and supply is limited (holds value in low physical volume) 2. It doesn't decay or rust 3. It's easy to split into smaller pieces or combine into a larger one.

Bitcoin is good at all three plus added benefit of easy, fast, cheap global transaction (compared to gold at least).