I like Tim, but he's preaching too much speculative oinkie oinkie language in my opinion.
I rather see these perma bulls actively highlight how important it is to have people at least hedge a part of their fiat wealth using Bitcoin. Governments will mess up, and we'll yet again face tough economical times which as always, hits the normal folks the hardest. I did so years ago already and I'm pretty close to a point at which even if the economy around me collapses, I'm not much affected by it.
i think tim is coming less from that angle and more from the "blockchains are gonna disrupt finance, banking, healthcare, etc" angle.
we haven't really seen how a major economic collapse would treat bitcoin. it would be interesting to see how it would have fared in 2008. a lot of people think it would actually be good for bitcoin, but i've got mixed feelings about that, especially while the technology is so young.
my old trading mentor always believed a stock market crash would have a very bearish effect on bitcoin. he knows the market perceives bitcoin as a high risk/high reward asset. a larger economic crash would shift creditors into tightened standards (no more easy credit to pump markets) and investors into "risk-off" mode, and money would pour into safe havens. i agree with that assessment. the alternative scenario is one where USD completely collapses, but that's a longshot. it's an eventuality on a long enough timeline, but i've seen people predicting imminent USD doomsday for decades. it's a bad bet that you can't time.