No, I don’t believe in intrinsic value in the abstract sense—I believe in physics, where energy is the foundational constant that defines the value of everything. Bitcoin’s value isn’t intrinsic because we assign it meaning; it’s intrinsic because its structure is rooted in the thermodynamic reality of energy expenditure. The security, scarcity, and immutability of Bitcoin are direct outcomes of this energy—measurable, universal, and undeniable.