It doesn't sound right to me anyway. Bitcoin has value because people put it in it because people trade it at certain prices. I don't think it has an inherent value, perhaps just a bit of it that comes from what's needed to generate BTC (electricity, equipment, maintenance), but that's not how we measure the value of money these days anyway. You're talking about scarcity I'm sure there are many scarce things on the planet nobody cares about. As for utility, it's kind of dubious because you can't really do anything with Bitcoin apart from generating it and making transactions... I mean, in terms of utility something like animal skin which used to be money about a thousand years ago had way more utility. But in terms of being money Bitcoin is kind of useful, I agree with that.