He does make a good point - speculative investors are not good for crypto.
Bitcoin, not having an intrinsic value, is going to be largely a speculative currency moving forward.
Once other cryptos like ETH and IOTA become used more widely and embedded in commerce and platforms then there will be some safety in investing, but at the moment it's all up in the air.
So we can't say he is right that it will all go to zero, but we can't say he's wrong. At this point we're all speculators.