Every person who dismisses Bitcoin by saying it has “no intrinsic value” usually hasn’t studied it.

What makes platforms like Facebook powerful? A billion people use it. What makes X compelling? 300 million people use it daily. The value isn’t in the code—it’s in the shared agreement to use the protocol.

That’s the essence of intrinsic value: a widespread, voluntary agreement on a common standard. That’s what built the Roman Empire, what drove the railroad boom, and what now underpins Bitcoin.

Protocol adoption is intrinsic value.