There is really nothing more than supply/demand mechanism at work here, that is valid for almost everything in life as well, same as gold for example, same as silver, those do not have a real value neither unless you actually use them for manufacturing something, but most people do not "use" gold, they just buy it as investment and that's it. Same logic applies to crypto as well and there is really nothing to be shocked about it.
I think that could be more about "why do people are buying so much right now", as in he probably knows that the reason bitcoin goes up is people buying in bulk and everyone attacks at bitcoin to buy more and more so price has skyrocketed, but he doesn't know why they are doing it.
To be quite honest with you I do not get the current situation neither, yes the reason why bitcoin went up is because people buy it a lot more than they sell it, and I mean A LOT MORE, but at the end of the day just because we understand that doesn't mean that we understand why people are doing it. Sure bitcoin is a great thing and I buy it too and I have few altcoins as well and everything is awesome for me right now since they are all going up like crazy, however that doesn't change the fact that I have zero clue why they are doing it this much, I would have expected a bit less.