If something can be used for a purpose other than exchanging it for something else, then it has intrinsic value. In the case of bitcoin, it doesn't have intrinsic value.
This is demonstrably incorrect: It is the intrinsic qualities of bitcoin which give it value. Those qualities make it better for exchange purposes than any other commodity. That is intrinsic value, value deriving directly from the intrinsic qualities of the thing. In this case it happens to coincide with the properties which make it useful for exchange. Other commodities have relatively poor intrinsic qualities for exchange. Their intrinsic qualities relate to other forms of utility. But exchange is very much a real form of utility.
