Bitcoin is a scarce asset, there will only ever be 21M. So based on the number of people on the planet and Bitcoin’s growing adoption with both individual and institutional investors, I’d say the fundamentals look pretty good.
We can all decide that shares of Worthless, Inc. are worth a bunch of money and collect them. But we can't really expect dividends or an acquisition premium in the future.
This differs significantly from real estate or gold, which is backed by a tangible representation. With a virtual currency, there is no floor to the amount of losses. Theres also no dependent economic activity to support it right now and any dependent economic activity could be replaced all the same.