This is exaggerated FUD that contains misinformation. Why on earth would the reserves to guarantee 1 USD peg to be held in bitcoin? That's just stupid. These reserves are mainly in USD and only a small amount is available in BTC.
Jordan specifically said their *goal* is 0% reserves, which means they are really backing it with NSR's ability to inflate to buy back NBT
The main trading pair is NBT/USD. They hold USD to maintain the peg. Bitcoin can go to zero, it doesn't change the amount of dollars available for maintaining the peg of 1 NBT per 1 USD.