Glad you enjoyed it! The statement here is a variation of the argument that Bitcoin is not an investment because it doesn’t generate cashflow or a yield. Completely missing the point that Bitcoin has value because it is money. In the broader passage it’s obvious he thinks bitcoin is some kind of digital pet rock. Which actually for IBIT holders it actually is, so he’s not totally wrong- he’s just missing a really important part. If you only knew my hat as a cereal bowl you’d think it was crap. But then if you put it on your head you might experience an a-ha moment