Some would argue (not me) that the value basis of fiat money is the same basis as the value of bitcoin. People believe that others will believe it has value, so it has value to them. Then there are arguments that bitcoin being non-inflationary should even give people more faith in the value of bitcoin than they should have in fiat.

Personally I could see bitcoin maybe getting there in a loooong time. But whilst the actual value of bitcoin is fluctuating this hard, the argument doesn't hold up. I also kinda like the argument: "Because taxes need to be payed, and are payed in fiat money, there will always be some basic demand and price for fiat money".

$100mm that can be exchanged for $100mm worth of goods, services, and investments.