Similar to Fiat currency, Bitcoin (or most of the cryptocurrencies) is also not backed by any gold or silver hence does not have any intrinsic value . The value of any currency comes from the backing of the state and the trust that people have over the government.
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Bitcoin Price Chart (BTC/USD) 24 Hour High24 Hour LowMarket Capitalization39,816.07 USD38,223.73 USD742,458,456,972.56 USDBitcoin Price Chart (BTC/USD) – Bitflyer bitflyer.com › en-us › bitcoin-chart
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