Lame video from a Keynsian economist. I'll debunk his 4 reasons he doesnt hold bitcoin.

Reason #1 You can't apply any model to measure bitcoin's intrinsic value.

"Value is not intrinsic, it is not in things. It is within us; it is the way in which man reacts to the conditions of his environment. Neither is value in words and doctrines, it is reflected in human conduct. It is not what a man or groups of men say about value that counts, but how they act." - Ludwig von Mises

Stop using the term "intrinsic value." All value is imputed from the subjective valuations of consumers on the market. The term "intrinsic value" can only serve to confuse every conversation about monetary theory.

What is the intrinsic value of an apple? To a starving man, he is willing to give his life savings for it.

Reason #2 - bitcoin is not a good substitute to replace USD. 

Moot point. It doesn't need to replace any fiat. As long as it is an available option that works in addition to fiat, a flavor of Gresham's law takes effect, and people will choose the currency to save, and which one to spend.

Reason #3 If bitcoin is a good store of value, it won't increase in price over time.

I have no idea what point he was trying to make here. He makes a comparison to gold, and how it hasnt grown by double-digits. Perhaps in comparison to fiat?

Reason #4 "There is a lot of dumb money in bitcoin"

Too many people are asking him to sponsor their company in his videos. There are too many noobs promoting bitcoin, so it makes him feel uncomfortable. No understanding of the fundamentals, and a reluctance to learn more himself because he thinks people are dumb. Does this seem reasonable?

His last comment about “dumb money” is so pretentious.

Because its effortless and you don't have to strain thinking about it? Because you put in only an amount which allows you to sleep at night no matter how large or small that amount which brings you peace may be?