There is an obvious value, but it is being actively stifled by the Chinese and US Governments. The basic function of currency is to act as a medium-of-exchange as well as a store of wealth. When governments block general usage the only thing that remains is speculation.
The bigger issue is the complete misunderstanding of the Tulip crisis. They get their views from a book written, based on rumors and legends, many, many years later.
They seem to believe the apochraphlyc stories about the madness of crowds, about single tulip bulbs being worth a life savings. It just wasn’t that way at all.
Anyway, if they believe that…they believe that crypto is used for more crime than the $100 bill. (Hint…BTC transactions for criminal purposes is about .3% of transactions. )