He might be right in some ways about Bitcoin but he fails to take into account that the price of Bitcoin may be inflated by Tether, a stable coin traded in large numbers for Bitcoin. New tether is minted by the billions, and has questionable auditing and oversight, and is used to buy Bitcoin on the open market.

There a couple of ways that the price of Bitcoin could drop precipitously and the unraveling of Tether is one of them.