Near Zero interest rates, AND Massive Quantitative easing by the fed over the last 14 years is unprecedented in history, and produced many bubbles in assets that should be near zero. BITCOIN, NFT's, Zombie Companies that will never make a profit etc. etc.
I'm very curious how you got to the conclusion that Bitcoin's should value is "near zero". That's very shallow thinking imo.
Civilizations traded in shells thousands of years ago. How are shells more valuable than a complex, sophisticated network and rare cryptocurrency? And don't bring the argument that shells are 'tangible'. Goodwill is not tangible, but still is worth millions of dollars in company M&As. What would dollars or any fiat currency be worth without the backing of governments' decisions? You see, it is all about trust here. The nature of Bitcoin's network makes it a trustless instrument for storing value.
What would you trust? A government full of corrupt individuals with their own self-interests or a network secured by hard core code and nodes all around the world that has a proven track record of 13 years already?
Moreover why is Gold worth so much in comparison with Bitcoin? --> Because it is tangible and has been valued by humanity for so much time. But things change. That's how we evolved as a race. Technology empower us and we should embrace it, BUT with a tint of conservatorism.