I think he has a fundamental misunderstanding of how Bitcoin and cryptocurrency, in general, work. Yes, Bitcoin is fairly speculative and without true, tangible "value, but the same can be said for just about any other fiat currency. The fact that Bitcoin (and others) has garnered so much government attention in the last year or so means that there is value assigned to it from it's users. Millions of transactions are happening every day and real goods are being bought online.
There is a problem with people hyping new tech as life-changing and gloming on to buzzwords that really don't mean much out of context. See: "blockchain".