He's right though. Bitcoin isn't an "investment," it's just a better form of money than the dollar, and it's where we choose to store our wealth as the dollar collapses.
Discussion
But why would you decide where to put your money depending on the definition of "investing"? That doesn't make sense at all... Did Bitcoin not grow by 80% every year, just because it's "unproductive"?!
By this definition simply holding US dollars under a mattress is "investing" in dollars. Bitcoin is simply another form of currency, but unlike any currency that is native to a nationstate's central bank, it is native to the internet. If demand for internet money grows faster than the supply, so will it's value.