Bitcoin, on the other hand, has no 'intrinsic' value if it crashes. You can't extract a bitcoin out of your harddrive and play with it, or use it as a jacket when it's cold outside. It's sole value stems from its purchasing power, nothing more. It's value is its life support.
But so are company stocks. When a company goes bankrupt, you can't 'turn in' your stock certs and get something in return. They are literally worthless. You can wipe your butt with them, or hang them on your wall so you can periodically cry while looking at them. (actually you can't even get physical stock certs anymore, but that is a different story...)
Same with fiat paper and fiat coins. They are worthless unless they are 'valued' by people, or a government simply says they have value. Otherwise they are literally worthless.
Getting into philosophical territory here, but technically all that matters is future convertibility. Nothing has intrinsic value if you are not using it that very moment. A delicious, piping hot Taco Bell chilli cheese burrito comes to mind .. versus a bar of gold. The intrinsic value of a bar of gold is the expectation that someone else will find it equally valuable at some point in the future.
