"Nothing is truly backed. Governments are also turning towards digital currencies which pushes the idea of bitcoin or digital currencies more. But, with the reach of governments means that they will be able to push their digital currencies to users more compared to traditional digital currencies including bitcoin.
Also, the value of any asset generally is more speculative of the time we live in. In the past, civilizations used different forms of currencies to do trading. Right now, we are moving towards decentralization and hence makes digital currencies a great chance to have an impact on our economy and social structure."