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Is Bitcoin's Worth Entirely Speculative?
Bitcoins have no intrinsic value, they are simply valuable for the reason that they are rare and that there is a finite amount of them.
Money can be printed to an almost infinite amount. Gold or Bitcoin are capped at a certain threshold. As such, they cannot inflate, which is a problem in an actual currency.
Copies of the Bitcoin blockchain can, and have been created (Bitcoin Cash), instantly doubling the number of Bitcoin-like coins in distribution. Granted, under a different name, and its own blockchain; yet, for all intents and purposes, it appears and is used as the same.