I have to greatly disagree.
Bitcoin has inherent value in its use and advantages compared to traditional money. I agree that it is not backed by something physical, but neither fiat money are. There are no currencies currently in the world that have any "inherent" value in sense that it is backed by something physical, because gold standard was left in Bretton Woods after 2WW.
Inherent or not, the value behind the bitcoin is this: it is electronic cash system that doesn't need any central authority. There is strong advantage in this. You don't need to trust any 3rd party with disposal of your money. You really can own the money. No limits, no business hours, no needed contracts, no account confiscation. No state monopoly on printing more notes to cover state debt. That means no inflation whatsoever. Simple and agreed rules and properties for the currency so everyone knows what to expect in the long run.
The value in bitcoin is in the use. And there are numerous uses: I've paid for goods numerous times. You can transfer value to other part of the world in few minutes for a fraction of a cost that you would otherwise pay for service like Western Union (WU charge about 3-7%, but with bitcoin you'll pay few dollars per transaction). There are valid and legitimate uses for bitcoin like sending remitances (a transfer of money by a foreign worker to an individual in his or her home country). It helps individuals in some countries to have means for transferring money electronically (using mobile phones) when bank accounts (and debit cards) are impossible to get.
This myth that it was invented for criminal activity and laundering money is attempt to defame bitcoin. There is no trace of truth in this statement. It was created by team of professional cryptographers as a result of multiple inventions from different fields of IT development (namely hashcash, distributed timestamping, probability theory and public key cryptosystems). Yes they were inspired by inability of current money to serve as public resource. After 2008 worldwide CDS (and synthetic CDO) crisis money were misused by banks and government revealing that individual can't trust any of them (see Cypriot crisis). This was motivation for them to create this experiment in 2009. There were many (now forgotten) attempts to create real internet currency before which were unsuccessful because of technical difficulties or government intervention. Finally bitcoin succeeded and proved that it can stay and provide safe solution for electronic cash payments.
I'm around bitcoin since 2011 and can tell you that I've heard about "bursting bitcoin bubble" and "colapsing" so many times that it is not longer funny. All those guys were wrong. Bitcoin is here to stay.
If you have the time, I recommend reading about earlier attempt - e-gold. It is fascinating story how government stopped this very promising project with fabricated charges. https://www.wired.com/2009/06/e-gold/ The fight for bitcoin (or electronic money not dependent on government in general) is not much different from fight for legalization of marijuana.